China’s bicycle exports have soared since the outbreak

Beijing, May 7 (Reuters) - China's bicycle production has performed strongly, according to a report by Latin American News Agency Beijing on May 5. Data showed that in the first three months of this year, the output of Chinese enterprises above the scale of bicycle increased by 70.2 percent year-on-year. China's bicycle industry has seen significant growth in export orders since the COVID-19 outbreak.

China exported 60.297 million bicycles last year, up 14.8 percent year-on-year, according to data released by a bicycle industry report. The country is expected to produce 80m bikes this year, with bicycle exports expected to grow by about 10%.

In the first three months of this year, enterprises above designated scale produced 7.081 million electric bicycles, up 86.3 percent year on year.

Global demand for Chinese bicycles has surged since last year, the report said. China's bicycle export destinations include Britain, Australia, the United States, India and the Netherlands.
This trend has encouraged more enterprises and investment to enter the bicycle industry, the report said. According to data from business information platform Tianyancha, 18,538 new bicycle manufacturers were registered in China in July 2020.

At the same time, some major bicycle companies have full production schedules for the whole year, and their employees need to work overtime to fulfill orders.
Analysts believe the significant increase is mainly due to the closure of foreign factories as a result of the pandemic, as well as the increased use of bicycles to maintain social distancing.
Analysts also cited environmental protection as more countries are stepping up efforts to promote environmentally friendly lifestyles.

China's bicycle exports have soared since the outbreak
China's bicycle exports have soared since the outbreak

Post time: Dec-11-2021