Urban Velo

Bikes for Bonuses as China’s Wealthy Reminisce

Screen shot 2013-02-18 at 11.56.15 PMVia Reuters:

Rich Chinese are buying bicycles that cost more than the average citizen makes in three years, motivated by nostalgia for the days when two wheels were the primary means of transport.

China is now the world’s biggest auto market, but high-end bike sales are expected to grow by 10 percent a year as they become a status symbol for wealthy executives.

Yu Yiqun, the creative director at an advertising company in the Chinese capital, cycles to work on his favorite bike – a 100,000 yuan ($16,000) hand-made Alex Moulton.

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