Housing renovation

THE country will soon achieve this year’s housing renovation target for rundown urban areas, according to data from the Ministry of Housing and Urban-Rural Development.

During the January-October period, the country started the renovation of 37,000 old urban residential communities, accounting for 94.6 percent of its annual target, the ministry said on its website. More than 6.87 million households will benefit from the renovation projects that have been started, the ministry said. The government plans to renovate 39,000 old urban residential communities in 2020, benefiting around 7 million households.

Electric bicycles

THE number of electric bicycles in China has reached around 300 million, with annual sales of more than 30 million units in recent years, according to data from the China Bicycle Association.

In 2019, nearly 5 million high-end bicycles with a unit price of over 1,000 yuan (US$152), including lithium battery-powered models, were produced, accounting for 13.8 percent of the total electric bikes produced in China, according to the association. In the first three quarters of this year, electric bike manufacturers reported total revenue of 67.76 billion yuan, up 26.6 percent year on year, official data showed.