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Total profits of China's bicycle industry up 32% in 2019

Updated: Apr 05,2020 09:19 PM    Xinhua

BEIJING — China's bicycle manufacturers above designated size saw their profit at 1.66 billion yuan ($234.29 million) in 2019, said the Ministry of Industry and Information Technology (MIIT).

The reading was up 32 percent year-on-year, while their total revenue edged down 0.7 percent from a year ago to 48.84 billion yuan, the MIIT data showed.

During the same period, electric bike makers reported a total revenue of 74.99 billion yuan, down 8.4 percent year-on-year, with their profits rising 4.6 percent to 3.63 billion yuan, said the MIIT.

Throughout the year, pedal bicycle output dropped 8.5 percent year-on-year to 39.62 million, while the output of electric bikes rose 6.1 percent year-on-year to 27.08 million.

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