
There are at least four things to note in this picture:
1. If you look closely, you can tell that someone is actually pedaling this bike, it's not just standing at the corner.
2. The pedestrians displaying a complete insouciance for the oncoming bike/cart that is about to run them over.
3. The cyclist who, despite the fact that his vehicle is clearly neither lean and svelte nor a speed demon, is not at all concerned about making a left-hand turn from the left (i.e., oncoming traffic -- traffic travels on the right here, as in the US) side of one street into the oncoming-traffic lanes of the other.
4. He's turning against the light.
This is pretty much how traffic works in China.