Shanghai further tightens rules to buy cars

Image
Press Trust of India Beijing
Last Updated : Jun 19 2016 | 2:22 PM IST
China's largest metropolis Shanghai has further tightened rules to buy cars as prospective car owners must now meet more stringent requirements to bid for a car registration plate.
Bidders must be Shanghai residents, or have at least three years of uninterrupted payments of social security or income tax.
In addition, the bidder must not have a road traffic offence in the year before bidding.
Plate auctions will be suspended as of Sunday.
The new standards will take effect from July 19, state-run Xinhua news agency reported.
According to a report by the Shanghai Urban-Rural Construction and Transportation Development Research Institute, the city has almost 2.5 million cars on its streets.
Several cities in China including Beijing have banned the direct purchase of cars to ease pressure on traffic and control pollution.
Instead prospective buyers have to obtain a number plate.
Some cities including Beijing use a lottery system.
Shanghai uses an auction system to sell a limited number of license plates to fossil-fuel car buyers every month.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jun 19 2016 | 2:22 PM IST

Next Story