China's bicycle industry reports rapid profit growth
BEIJING, Oct. 30 (Xinhua) -- China's major bicycle manufacturers saw their profits surge 46.4 percent year on year in the first eight months of 2021, according to the Ministry of Industry and Information Technology (MIIT).
Bike makers with annual main business revenue of more than 20 million yuan (about 3.13 million U.S. dollars) raked in 7.16 billion yuan in total profits from January to August.
Their to