Wang Zhenxiang, a grocery owner in Shanghai, recently rushed out and bought several hundred safety helmets for 30 yuan each . The 35-year-old is now making a killing, selling the helmets for 85 yuan each.
“I could trade them at a huge premium now with the helmets becoming an item highly sought after by local shoppers,” said Wang. “The price is set to rise further because I see more people coming to buy them.” “The new policy is creating a new business for some people to get rich overnight,” said Yin Ran, a Shanghai-based angel investor. “We have seen some scalpers rush to stock up on helmets as they look to take advantage of an expected price surge to make a killing.”
The ‘bicycle kingdom’ goes electric, and Chinese-bike maker Yadea is readyExisting manufacturing capacity safety gear is evidently inadequate.
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