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November 24, 2020

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China bicycle exports surge amid virus

China’s bicycle exports have seen strong gains as COVID-19 precautions have prompted people worldwide to turn to cycling and using electric bicycles for short journeys.

From January to September, China exported 41.66 million bikes, an increase of 3.9 percent year on year, with the volume expanding 12 percent over the same period last year to US$2.43 billion, according to data from the China Bicycle Association.

The bicycle industry saw orders plummet and production slacken in the first half of this year due to the epidemic, but has recovered lost ground since June with the bike outputs of some firms tripling from pre-epidemic levels.

The association expects the bicycle industry to see its combined revenues surpass 360 billion yuan (US$54.78 billion) in 2020, up 10 percent year on year, and maintain robust growth momentum in overseas markets such as Europe, the United States and Southeast Asia.




 

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