The success rate of bidding at the Shanghai car plate auction this month dropped to a new low today- 5.5 percent - as the number of bidders shot through the roof to 135,677, the Shanghai International Commodity Auction Co said.
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That number of bidders was 21,556 up from last month while the car plate supply was kept at the same level, 7,400 for private participants, as pre-set by the municipal government out of a quota of 100,000 for the whole year.
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Today's auction was in place of the one held and declared invalid when data interaction anomalies led to bidding system malfunctioning.
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The average winning price for a Shanghai car plate this month was 73,896 CNY (11,830 USD) , down 607 CNY from last month.Â
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The lowest bid dropped 600 CNY to 73,800 CNY. The first-round bids were kept under the price ceiling, which will be kept at 72,600 throughout the year.Â