From OilPrice, December 29:
The Chinese city of Hangzhou, one of several large Chinese cities that restrict licenses for new fossil fuel-powered cars to reduce pollution and traffic congestion, is easing the curbs on eligibility for car ownership in an effort to boost flailing consumer spending and the economy, business news outlet Caixin Global reports.
Hangzhou, alongside Beijing, Shanghai, Shenzhen, and Guangzhou, has had such restrictions for nearly a decade. Hangzhou’s city authorities have been granting just 80,000 new license plates for gasoline and diesel-powered cars per year, in a lottery. To compare, in February 2023, more than 800,000 residents registered to take part in the lottery to win fewer than 5,000 license plates, Caixin notes.
The city government started easing the restrictions this year, allowing residents who haven’t won the lottery more than 72 times to directly apply for a license plate for a gasoline or a diesel-fueled passenger vehicle....
....MORE
