* Car plate applicants exceed 1m in Beijing

China Daily: “A record 1-million-plus people in Beijing competed for fewer than 20,000 registration certificates qualifying them to buy cars through a lottery system on Sunday.

With a fixed number of car registrations issued each month and a lengthening waiting list, many potential car buyers are losing hope.

Some 1.05 million qualified applicants entered the registration lottery in August – 110,000 of them for the first time – and only 19,926 registrations will be issued, the city office in charge of the lottery system said on Saturday.

One in every 53 applicants will get the registrations, 80 percent fewer than in January last year, when Beijing introduced the lottery system to cap new car ownership at 240,000 a year.”

via Car plate applicants exceed 1m in Beijing |Society |chinadaily.com.cn.

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