Shenzhen Limits New-Car Sales

Shenzhen has become the fourth Chinese city to impose restrictions on new-car sales, the Financial Times reports.

Effective this year, Shenzhen will issue no more than 100,000 license plates annually. The city currently has about 3.1 million registered private cars, according to the FT. It says passenger vehicle sales in Shenzhen totaled about 500,000 units last year.

The huge city joins Beijing, Guangzhou and Shanghai, which have announced similar licensing restrictions to help control air pollution and traffic congestion.

Shenzhen will distribute plates through auctions and lotteries. The FT says 20% of the city's annual quota will be reserved for electric vehicles.