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China's bike makers in high gear to meet strong demand

Xinhua News,BEIJING
2020-06-09 10:39

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BEIJING, June 9 (Xinhua) -- China's bike production increased significantly in April to meet strong demand from domestic and overseas markets.

China's pedal bicycle output stood at 10.46 million in the first four months of this year, down 13.6 percent year on year. The output of electric bikes dropped by 3.8 percent year on year to 6.45 million in the same period, according to data from the Ministry of Industry and Information Technology.

In April, however, pedal bicycle output rose by 27.5 percent year on year to 3.9 million, while the output of electric bikes surged by 40.6 percent year on year to 2.51 million.

China's major pedal bicycle manufacturers, enterprises each with an annual business revenue of more than 20 million yuan (about 2.82 million U.S. dollars), saw their revenue fall by 12.8 percent year on year to 12.7 billion yuan in the first four months, with their profits decreasing by 17 percent to 270 million yuan.

During the same period, major electric bike makers reported a total revenue of 20.74 billion yuan, down by 0.7 percent year on year, while their profits dropped by 12.9 percent to 840 million yuan, said the ministry.
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