Having maintained an average annual growth rate of 10% in GDP over the past three decades,China overtook Japan becoming the world's second largest economy in the second quarter of this year. In addition, China still kept a GDP growth rate of 8.7% and contributed over 30% to the world economic growth in 2009, despite the global financial crisis. The strong economic development in China has been accompanied by significant growth in the middle class and the purchasing power parity. For instance, China ranked itself the world’s biggest automobile market with a production of 1,379 billion vehicles and a sale of 1,364 billion in 2009. It was also true that China imported over US$ 0.22 billion in bicycle products, which were mostly of sports bicycle parts.
The Chinese government is now promoting energy saving and concerning the environmental issues. Beijing, the capital city of China has published a program “mission to build a civilized, scientific and green traffic (2009-2015)”- to encourage and guide citizens to use bicycle, hoping that by 2015 the rate of bicycle in transport will reach 23%, even 1% higher than that of cars. And this program will have more impact on policy-making for coastal and emerging Midwest cities, as more cities rise on the horizon in an urbanization movement across China.
Dynamic economy, purchasing power, good education, new lifestyle and strong Chinese Yuan are all to push bicycle demand higher, while people are having more fun in riding bicycles out of sports and leisure, especially those possessing sophisticated functions and high-qualities. |