The Chinese Ministry of Commerce has announced that the number of new electric bicycles sold in China has reached 3.42 million since the launch of the consumer goods replacement support program in September 2024. The ministry noted that over 2 million of these electric bicycles were sold under the program, generating revenues of approximately 5.6 billion yuan (about 783 million USD).

According to the ministry's data, the average electric bicycle sales in China for the current year have reached 27,000 units per month, which marks a 2.5-fold increase compared to the average sales of the previous year.

Furthermore, more than 2 million individuals have benefited from the consumer goods replacement program, which has provided a total of over 1.2 billion yuan in support, averaging 610 yuan per individual.

Xinhua News Agency reported that approximately 50,000 retail outlets have benefited from the electric bicycle sales support program since the beginning of this year, with the average sales per store increasing by around 107,000 yuan.

Most of these outlets are individual businesses or small enterprises.