What is the driving force behind China s Q3 bike exports touching 25-year high?
(Photo/Xinhua) China s bike exports hit 1.1 billion U.S. dollars during the third quarter, the highest quarterly tally in 25 years. What is the driving force behind such strong growth? From January to September, China s output of bicycles and electric bikes both posted double-digit growth, data from the General Administration of Customs showed. The factory of Phoenix Bicycle, located in Danyang, east China s Jiangsu province, mainly produces bicycles and electric bikes for export. Due to the outbreak of the epidemic, it was difficult for the factory to recruit workers during the first quarter of this year. Coupled with the lack of supply of upstream parts and weak downstream demand, the factory s output was less than half of its capacity.