Digital currency coupons distributed to Shenzhen residents via the e-commerce platform Meituan have stimulated consumption in nearly 50,000 participating local businesses, Shenzhen Special Zone Daily reported.

According to statistics, between May 30 and June 12, these merchants’ total order volume and amount went up by 56.7% and 65.6%, respectively, year on year.

Shenzhen started giving out e-CNY (digital yuan) vouchers via Meituan on May 30, as a move to boost residents’ spending and help COVID-affected small and medium-sized businesses during challenging times.

As the e-CNY coupons can be used in both online and offline shops, the incentive has played a positive role in driving small expenses in convenience stores and supermarkets around residential areas, the Daily said.

Dongjingxuan Supermarket’s Yuanfen Store in Longhua District has reported a surge in orders, especially during the Dragon Boat Festival from June 3 to 5. “We are selling snacks, drinks, towels, toothbrushes and washbasins, among daily necessities. Bolstered by shopping vouchers and e-CNY coupons offered by the government, our business is much better than before,” said the store owner.

Data from Meituan showed that since January when the platform launched a digital yuan payment channel and offered online shopping subsidies, consumers have used 90% of the subsidies for purchasing daily necessities and ordering takeaway, and most of the expenses were lower than 30 yuan (US$4.48).

Aside from e-CNY coupons, another stimulus amounting to 70 million yuan in consumer electronics purchase subsidies and 30 million yuan in allowances for household appliance spending, have also unleashed residents’ buying power.

All of the 100-million-yuan subsidies were handed out within a month and a half after they were made available for application May 1.

Currently, the second round of e-CNY coupons is being issued on the Meituan app, further tapping local consumption vitality and speeding up the integration of online and offline shopping.