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Shanghai (CNS) -- An amended regulation on the auction of private car licenses in Shanghai is expected to be released this year, according to Sun Jianping, director of the Shanghai Transport and Port Administration on Sunday.

The regulation is expected to crack down on speculative car plate trading and curb the rise of car plate prices.

Related government departments in Shanghai have issued several policies to regulate the market in the past two months.

According to a regulation delivered in March, the price of a secondhand car plate should not exceed the auction price of new car plates.

A price ceiling was also applied at Shanghai's monthly car plate auction as part of the local government's efforts to cool the market.

These moves came as the average successful bid at March's auction reached just over 90,000 yuan ($14,530).

But thanks to the new policies, car plate prices dropped for the second consecutive month at Saturday's auction.

The average successful bid for a Shanghai car plate fell to 80,803 yuan, down 3,298 yuan from last month.

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