China 2022-11-15T05:03:04+02:00
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China's bicycle industry reports rapid profit growth

China's bicycle industry reports rapid profit growth

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China, Manufacture, industry, PRC, Statistic, Bicycle
China's bicycle industry. Photo by Xinhua.
China's bicycle industry. Photo by Xinhua.

China's major bicycle manufacturers saw their profits surge 46.4% year on year in the first eight months of 2021, according to the Ministry of Industry and Information Technology (MIIT), informed The Xinhua News Agency.

Bike makers with annual main business revenue of more than 20 million yuan (about $3.13 million) raked in 7.16 billion yuan in total profits from January to August.

Their total revenue rose 30.6% from a year earlier to 145.16 billion yuan, the MIIT data showed.

"During the same period, electric bike manufacturers reported total revenue of 75.03 billion yuan, up 23.9% year on year, with their profits increasing 28.6% to 3.46 billion yuan", – said the ministry.

Больше новостей о: China Manufacture industry PRC Statistic Bicycle




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