Chinese bicycle makers pedal away COVID blues with strong growth

Chinese bicycle companies continued to witness steady growth during the first three months, further cementing the industry's recovery from the COVID-19 epidemic, a leading industry body said.

Nearly 10.7 million bicycles were produced in the country during the first quarter, up 70.2 percent on a yearly basis, the China Bicycle Association said during the 30th China International Bicycle Fair in Shanghai on Wednesday. During the same period, 7.081 million electric bicycles were produced in China, up 86.3 percent over the same period a year ago, it said. Meanwhile, the number of bicycles exported stood at 16.185 million in the first quarter, up 73.4 percent from a year ago, while spare part exports rose by 111.4 percent to $1.125 billion.

China currently accounts for 60 percent of the global bicycle trade, the association said. Last year, the industry produced 116.54 million bicycles, a year-on-year increase of 15.3 percent. Meanwhile, annual exports of bicycles and electric bicycles, and other related spare parts reached $7.88 billion, up 23.1 percent on a yearly basis.