Chinese Electric Bike Makers Target Emerging Markets as Exports Boom Despite Global Downturn
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Chinese bicycle companies should target emerging markets in Belt and Road Initiative and RCEP countries amid global downtrend.
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Demand for electric bicycles grew in Belt and Road regions like Southeast Asia and South America.
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Bicycle exports to Belt and Road countries doubled; exports to Indonesia, Thailand, Turkiye grew double-digits.
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Online sales and overseas warehouses expanded for Chinese electric bicycle companies.
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Bicycle exports expected to grow 20% to Belt and Road countries in 2023 amid strong demand.