Border Crossing Sees Increase in Demand for Dual License Plates
Because of the increasing demand for dual license plates that allows vehicles to travel across the mainland border and Hong Kong, sales of these dual licenses plates in the black market have been increasing in the recent years.
The average price of a dual license has already reached 700,000 yuan which is 600,000 yuan more than the average price a few years back. But for some buyers it is considered as a business investment. Cars that bring mainland passengers to Hong Kong and back usually earns more than HK$ 60,000 a month. Huanggang Checkpoint in Futian and Shenzhen Bay Checkpoint in Nanshan were the major issuers of dual plates for Hong Kong vehicles. By the end of May there were 28,000 cars that were issued cross border plates and about 25,000 of these cars were owned by the Hong Kong government or qualified companies in Hong Kong. The other vehicles were either owned by mainland governments or companies.
Dual license plates that are issued by the Guangdong Province traffic management bureau are difficult to obtain due to the high standard given to applicants. Regulations are requiring applicants to invest US$ 400,000 in a business in rural Guangdong and must also pay an annual tax of 150,000 yuan or invest a US# 1 million in a business entity in urban Guangdong and pay the annual tax of 300,000 yuan. Issued dual plates can’t be transferred or rented.
But some cross border drivers are capitalized on the increasing number of travelers that are traveling to Hong Kong in van to help save time. Some companies are also helping people obtain dual plates so they can offer pick up services to travelers.