As a big exporter of bicycles, China directly exports bicycles worth more than 3 billion US dollars every year. Although raw material prices continue to rise, but China's bicycle exports have not suffered too much impact, market performance is strong.
According to customs statistics, in the first three quarters of this year, China's exports of bicycles and parts reached 7.764 billion US dollars, up 67.9 percent year on year, the highest growth rate in the past five years.
Among the six bicycle exports, the exports of high-end sports and high value-added racing bikes and mountain bikes showed strong growth, up 122.7 percent and 50.6 percent year-on-year respectively. In September, the average unit price of exported bicycles reached us $71.2, a record high. Exports to the United States, Canada, Chile, Russia and other countries maintained double-digit growth.
"According to customs data, China's bicycle exports in 2020 grew 28.3% year on year to $3.691 billion, a record high; The export volume was 60.86 million, up 14.8% year on year; The average unit price of exports was $60.6, up 11.8 percent year on year. It is almost certain that bicycle exports in 2021 will surpass those in 2020 and hit another record high." China Chamber of Commerce for Import and Export of Mechanical and Electronic Products Exhibition Center senior manager Liu Aoke predicted.
Liu Aoke told the International Business Daily that since last year, China's bicycle exports have bucked the trend of growth due to three factors: first, increased demand, the outbreak of the epidemic has made people more interested in a healthy and safe way of cycling; Second, the outbreak of the epidemic has blocked production in some countries, and some orders have been transferred to China. Third, overseas dealers in the first half of this year to cover the strong trend.
"Although the export has achieved growth, bicycle enterprises are also faced with difficulties such as delivery delay caused by tight supply of raw materials, rising raw material prices, exchange rate fluctuations, difficult to find shipping space, and rising freight rates. The overall benefit of the industry has not increased significantly with the growth of exports, and the overall profit margin of the industry is lower than before." Liu aoke bluntly said that there is still a gap between the average price of China's bicycle export and that of Germany, Japan, the United States, the Netherlands and other countries that produce middle and high-end bicycles. In the future, it is urgent for The development of Chinese bicycle enterprises to accelerate the improvement of product structure and gradually change the situation that the domestic bicycle industry is dominated by low value-added products.
It is worth mentioning that the Regional Comprehensive Economic Partnership (RCEP) has entered the countdown to its entry into force. RCEP member countries account for seven of the top 10 export markets for Chinese bicycles, which means that the bicycle industry will enjoy major development opportunities after RCEP takes effect.
Statistics show that in 2020, China's bicycle exports to the 14 countries involved in the RCEP free trade Agreement amounted to 1.6 billion US dollars, accounting for 43.4% of the overall export, with a year-on-year growth of 42.5%. Among them, exports to ASEAN amounted to $766 million, accounting for 20.7% of the total exports, up 110.6% year on year.
At present, among RCEP member countries, Laos, Vietnam and Cambodia do not reduce the tariffs on all or most of the bicycle products, but half of the countries have promised to reduce the tariffs on Chinese bicycles to zero within 8~15 years, and Australia, New Zealand, Singapore and Japan have promised to directly reduce the tariffs to zero.