Shanghai car license plate costs on the rise

Strong demand among urbanites and regulations to ease congestion drive up prices

Getting a car license plate in Shanghai costs almost as much as buying an economy family car, and industry insiders predict prices will continue to rise.

The city's monthly number plate auction on Saturday, saw a record-high average bid of 69,346 yuan ($11,000), up 3.58 percent from November, authorities said. The lowest transaction was 68,900 yuan, also a record.