BEIJING: China’s output of electric bicycles reached 25.48 million during the first 10 months of the year, a year-on-year increase of 33.4 percent, said the Ministry of Industry and Information Technology on Wednesday.
From January to October, the revenue of major bicycle manufacturing enterprises stood at 141.9 billion yuan (about $22 billion), a year-on-year increase of 16.8 percent, and the total profit reached 5.88 billion yuan, 25.1 percent up year on year.
In October alone, the output of bicycles stood at 3.61 million, a year-on-year increase of 42.2 percent, while the output of electric bicycles stood at 2.50 million, a year-on-year increase of 29.9 percent. –PNP
