BEIJING, Nov. 20 (Xinhua) -- China's bicycle export continued increasing in the third quarter, with export value hitting 1.1 billion U.S. dollars, up from the 0.81 billion U.S. dollars in the second quarter, reported Securities Daily on Friday quoting data recently released by the General Administration of Customs.
It was the first time that the single-quarter export value of bicycle has exceeded one billion U.S. dollars since 1995.
Statistics from China Bicycle Association showed that China's bicycle sector has resumed production since the second quarter, with both output and sales picking up steam. As the data told, bicycle export kept double-digit growth in May and June. In June alone, 5.59 million units of bicycles were exported, up 30.5 percent year on year, with the export value surging 38.8 percent year on year to 321 million U.S. dollars.
In the first half of the year, China exported 6.11 million units of bicycles to the U.S., 784,000 units to Vietnam, and 734,000 units to the Republic of Korea, up 8.4 percent, 72.6 percent, and 37.4 percent respectively, according to the report.
One of the main reasons for the burgeoning bicycle export is people's changing travel habits due to the COVID-19 pandemic, said industry insiders. As the pandemic is still raging in overseas markets, consumers have chosen bicycle as the way of doing exercise and travel, following the shut-down of local gyms and considering the health concerns of public transportation.
In addition, while bicycle producers in other countries suspend production due to the pandemic, bicycles manufactured in China are available as the country has resumed production. It is natural that overseas consumers buy bicycles from China.
The recently-signed Regional Comprehensive Economic Partnership (RCEP) is also expected to be a boost for bicycle exports, especially the exports of electric bicycle. According to Statista, a global business data platform, the Asia Pacific region is the world's largest market for electric bicycle, accounting for 94.39 percent of the global market.
It will take some time for foreign countries to resume production. Against this backdrop, overseas orders requiring for bicycles made by China will continue to go up, and the rising trend may last until 2022, said Luo Lue, general manager of business of Shanghai Fenghuang Import & Export Co., Ltd. (Edited by Su Dan with Xinhua Silk Road, sudan@xinhua.org)
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