The bicycle is once again in vogue here in China. Unlike the luxury cars popping up in the streets, high-end bikes are quietly zipping around the country. This story comes courtesy of Reuters.
A symbol of China's past. For most, the bike was once the only way of getting around. China today pedals to a different pace.
Bikes are out. And cars are the new status symbol. But for a growing number of wealthy Chinese, bikes are making a comeback. But these aren't your ordinary working-class wheels.
Like this one, a hand-crafted, Italian Gios. It's worth nearly $2,000. Its proud owner Yu Yiqun, a creative director of AD Agency Geogrum, said it's the cheapest among his thirty-some bikes.
He's not sure which one is the most expensive, but several of the frames alone cost well over $30,000.
"For people who don't understand bikes, they ask 'are you out of your mind? You could buy a car for the price of this bike?' But we just have different ways of looking at things," Yu said.
Bike brands are flocking to China to offer its rich the latest in cycling bling.
Iconic British folding bike Brompton just opened its first store here. One of these will set you back a couple thousand dollars.
Alex Moulton is known as the Rolls Royce of bikes.
Joseph Lee runs a luxury bike shop in Hong Kong and is expanding in Beijing to meet the growing demand
"We once had a customer looking for a top-end bike who walked into our shop with two questions. The first was, is this the best brand? The second was, is this the best model?" Lee, the general manager of Wing Fung Company, said.
So it's no surprise fashion house Shanghai Tang, BMW, or Ferrari are joining the ride.
Far from an outdated relic, the humble bike is looking like a symbol of China's high-consumption future.
(CNTV.cn January 16, 2013)
