The number of bicycles produced by large-scale bicycle businesses in China in the first quarter of the year reached 10 million 700 thousand, increasing by 70,2 percent on an annual basis. According to the information released by the China Bicycle Association, a growth rate of more than 30 percent was recorded in the value added realized in the bicycle manufacturing industry in the country in the first quarter of the year.
The production performed by large-scale bicycle enterprises in China in the January-March period reached 10 million 700 thousand, increasing by 70,2 percent on an annual basis. In addition, the production of large-scale electric bicycle enterprises increased by 86,3 percent compared to the same period of the previous year and reached 7 million 81 thousand. On the other hand, the 30th China International Bicycle Fair, organized by the China Bicycle Association, is held in Shanghai on 5-8 May. More than a thousand businesses participate in the fair, where there are approximately six thousand stands.
According to the data of the association, China is the world's leading manufacturer and exporter of bicycles. More than 60 percent of the worldwide bicycle trade volume comes from China. There has also been a noticeable increase in the demand of China's bicycle industry from abroad since last year. This year, bicycle production in China is expected to reach 80 million units, and bicycle exports are expected to rise 10 percent.
Source: China International Radio