Economic Performance Of China's Bicycle Industry From January To September In 2020

In the first three quarters of 2020, China's bicycle industry quickly got rid of the impact of the epidemic and maintained its growth momentum, with major indicators positively improving.

The output of bicycles and electric bicycles achieved double-digit growth. From January to September, the output of bicycles above designated size was 32.202 million, an increase of 14.2% year-on-year; the output of electric bicycles above designated size was 22.853 million, an increase of 30.3%.

The main business income and profit continued to grow. From January to September, the bicycle business revenue of enterprises above designated size was 40.98 billion yuan, a year-on-year increase of 7.2%; the realized profit was 1.57 billion yuan, a year-on-year increase of 10.9%. Business revenue of electric bicycle enterprises above designated size was 67.76 billion yuan, a year-on-year increase of 26.6%; profits were 2.63 billion yuan, a year-on-year increase of 30.4%.

Exports turned from negative to positive, and the export value increased across the board. From January to September, 41.663 million bicycles were exported, a year-on-year increase of 3.9%; the export value was US$2.434 billion, a year-on-year increase of 12.0%; the average export unit price was US$58.4, a year-on-year increase of 7.8%.

From January to September, the export value of parts and components was 2.189 billion U.S. dollars, a year-on-year increase of 1.4%, the first positive growth this year.

On the whole, the industry has shown a positive trend of steady progress and is expected to achieve the goal of "steady growth" throughout the year.