According to statistics from the China Bicycle Association (CBA), China produced 76.40 million bicycles in 2021, which represented growth of 1.5% compared with 2020. China's e-bike production was 45.51 million units, and this figure was up by 10.3% compared with 2020. The industry generated revenue of RMB 308.5 billion, and net profit of RMB 12.7 million. The value of the industry's exports grew by 53.4% in 2021, and reached a historic high of more than US$12.0 billion.
China exported 69.23 million bikes in 2021, and this figure was up by 14.8% compared with 2020. Bicycle exports had a value of US$5.107 billion, which was up by 40.2%. In particular, the "competition bike" and "MTB" categories enjoyed robust growth. China's parts exports have grown at a high rate for three years in a row, and the US$5.58 billion value of exported parts in 2021 represented growth of 63.7% compared with the previous year. Production of e-bikes employing lithium batteries reached 4.98 million units in 2019, passed the 10 million unit mark in 2020, and surpassed 12 million units in 2021, at which time e-bikes with lithium batteries accounted for 28.5% of China's overall e-bike output.