SHANGHAI (Reuters) - Being bolted down is not enough in booming Shanghai where a crackdown has begun on scrap metal thieves stealing phone booths, traffic lights, manhole covers and wiring.

Tempted by soaring prices for metal, thieves stripped one residential compound of two thirds of its fire extinguishers.

"Some scrap metal dealers have become a channel for fencing stolen material," Shanghai government spokeswoman Jiao Yang told a news conference Wednesday, announcing new regulations and permit requirements for dealers.

To keep stray pieces of public infrastructure from disappearing, only authorized dealers will be allowed to accept street signs, transformers, towers for electricity lines and other metal equipment vital to the city's functioning.