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China: Folding bicycles ride wave of popularity in China
[Voiceover] With their unmatched convenience and portability, folding bicycles are the latest must have equipment for urban cyclists in Chinese cities. In the eastern city of Changzhou, dozens of urban riders recently met up for a chat over coffee and a five-k ride. And folding bikes were the ride of choice for many participants, who say they're perfect for weekend escapes and spontaneous getaways. [Soundbite] Zhu Yingjie, cycling enthusiast: "With a busy work schedule, I barely have time to exercise. I think cycling is a great way to stay active, and I also hope to meet like-minded people through it." [Voiceover] With the growing popularity of these compact two-wheelers, retailers are seeing a surge in sales, with some reporting a 50-percent increase compared to the same period last year. [Soundbite] Sun Ruotian, product manager, folding bicycle store: "The currently popular '4+2' lifestyle refers to using four-wheeled cars plus two-wheeled folding bicycles. Our store has sold 200 folding bikes so far this year, representing a year-on-year increase of over 50 percent." [Voiceover] According to data from China Insights Consultancy, 700,000 folding bikes were sold in 2023, and by 2028, that number is expected to reach 1.4 million, with an annual growth rate of more than 14 percent. [Restrictions: No access Chinese mainland]
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