LIU LEI has been waiting to buy a car for more than seven years. Sadly, Mr Liu, an engineer from Beijing, has had no luck in the capital’s licence-plate lottery. Introduced in 2011, this system for allocating number plates aims to tackle the city’s problems of rage-inducing congestion and asphyxiating pollution. Under the scheme, the city imposes annual quotas on the issuing of new licence plates. Buying a car requires proof that one is in hand. Obtaining a plate involves entering a bimonthly draw. The odds of winning fell from 6% in February 2011 to an all-time low of 0.2% this February (see chart). In the latest one 2.8m people contended for 6,460 plates.
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