Bids Pour In for Car Plates in Shanghai

More than 221,000 private car owners bid for 8,300 available license plates this month in Shanghai’s monthly lottery process, reports the Shanghai Daily.

The newspaper says the average winning price for the auction was 83,100 yuan (nearly $12,900).

Shanghai, like several Chinese supercities, limits vehicle licenses in an effort to control traffic congestion and air pollution. Shanghai Daily notes that a flood of last-minute bids typically overwhelms the auction and delays results.