China's major bicycle manufacturers report output surge in Q1

Source: Xinhua| 2021-05-05 20:13:25|Editor: huaxia

BEIJING, May 5 (Xinhua) -- China's major bicycle manufacturing firms saw rapid growth of output in the first quarter of the year, data by the China Bicycle Association showed.

During the period, manufacturers with an annual operating revenue of at least 20 million yuan (about 3.09 million U.S. dollars) produced 10.7 million two-wheeled bikes, surging 70.2 percent year on year, said the association.

The output of major electric bike producers soared 86.3 percent over a year earlier to 7.08 million units in the first three months.

As a major bike producer and exporter in the world, China contributes to more than 60 percent of international bicycle trade volume, according to the association.

The number of export orders of the country's bicycle industry has increased significantly since 2020, as cycling has become more popular worldwide due to the impact of COVID-19.

The association expects China's bike output to reach 80 million units this year, and exports of the industry to grow by around 10 percent. Enditem