CHINA China's bicycle industry reports stable growth in first 11 months of 2019

CHINA

China's bicycle industry reports stable growth in first 11 months of 2019

Xinhua

17:15, January 05, 2020

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File photo: CGTN

BEIJING — China's bicycle manufacturers above designated size saw their profit at 1.48 billion yuan (about $212.4 million) in the first 11 months of 2019, said the Ministry of Industry and Information Technology (MIIT).

The reading was up 46.9 percent year-on-year, while their total revenue dropped 1.2 percent year-on-year to 44.12 billion yuan, the MIIT data showed.

During the same period, electric bike makers reported a total revenue of 66.33 billion yuan, up 7.1 percent year-on-year, with their profits rising 10.3 percent to 2.57 billion yuan, said the MIIT.

In November of last year, China's pedal bicycle output stood at 3.31 million, down 3.6 percent from the same period of last year, while the output of electric bikes climbed 10.9 percent year-on-year to 2.12 million, according to the ministry.

During the 11-month period, pedal bicycle output dropped 7.4 percent year-on-year to 36.12 million, while the output of electric bikes rose 14.8 percent year-on-year to 24.58 million.

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