Still Bike Mad

Yahoo Business reports the commencement of a bicycle industrial park in Shenzhen in South China's Guangdong Province with a planned investment of 3.3 billion yuan (US$398.5 million). This will be the biggest industrial park for bicycle manufacturing in China, covering a construction area of 1.20 million square meters, according to a cooperation agreement signed by the Shenzhen City Industrial Economic Association, the Nanguang Group, and about 20 bicycle manufacturers. The park is expected to form a production capacity of more than 10 billion yuan in output value, which will increase by 10 per cent annually. Shenzhen exported 70 per cent of the country's total export of bicycles last year.