China's bicycle industry posts stable growth in August
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China's pedal bicycle output stood at 3.74 million in August, up 0.2 percent from the same period of last year, said the Ministry of Industry and Information Technology (MIIT).
The output of electric bikes climbed 43.5 percent year on year to 3.26 million in August, according to the ministry.

During the January-August period, pedal bicycle output dropped 7.3 percent year on year to 22.66 million, while the output of electric bikes rose 17.81 percent year on year to 18.29 million.

The country's bicycle manufacturers above designated size saw their revenue drop 0.1 percent year on year to 31.96 billion yuan (about 4.52 billion U.S. dollars) in the first eight months, with their profit surging by 84.8 percent to 1.17 billion yuan.

During the same period, electric bike makers reported a total revenue of 49.04 billion yuan, up 10.2 percent year on year, with their profits rising 22.4 percent to 1.98 billion yuan, said the MIIT.

Source: Xinhua
2019-11-12

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