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E-CNY pilot lands in Wenzhou
Date:2022-04-11 16:05:03 Source:Wenzhou·China Fonts:[ Large Medium Small ]

A citizen is applying for the e-CNY livelihood & consumption red packet.

With the digital RMB pilot landing in Wenzhou, Wenzhou citizens got their first red packets containing the digital yuan, or e-CNY. On April 2, Meituan pioneered to distribute the e-CNY livelihood & consumption red packets to residents in Wenzhou, and anyone who works or lives in Wenzhou is entitled to a red packet of e-CNY worth 40 yuan if they search for “e-CNY” via the Meituan App and register accordingly.

E-CNY red packet: no threshold for getting it, multiple scenarios of using it

E-CNY is a digital form of China’s legal currency issued by the People’s Bank of China (PBOC). Recently, it is accelerating the pace of promotion and popularization, as cities like Wenzhou are included in the digital RMB pilots, rendering more livelihood benefits to people everywhere. In Wenzhou, the e-CNY livelihood & consumption red packets distributed by Meituan this time cover over 200 types of daily livelihood & consumption scenarios offline related to clothing, food, housing and transportation. Citizens can pay with the e-CNY when dining in restaurants or ordering food for take-out or buying groceries.

It is found that there is no threshold for new e-CNY users to acquire the e-CNY livelihood & consumption red packets. So long as they download and register the e-CNY App, they will receive the e-CNY red packets instantly, which can be used to offset an equivalent amount when ordering take-out, buying fresh food, watching movies or taking a taxi. For instance, A cup of fresh juice priced at 13 yuan will cost you zero if you use the received red packet of 10 yuan plus a voucher of 3 yuan. In other words, e-CNY gives you a cup of juice for free.

This activity was co-sponsored by Meituan and other operating institutions such as Bank of China and China Construction Bank. According to Meituan, the distribution of the e-CNY livelihood & consumption red packets in Wenzhou aims to further fuel the universal value of e-CNY, expedite the popularization and promotion of e-CNY in Wenzhou while driving the recovery of offline consumption in Wenzhou.

E-CNY red packets to be distributed until June 30

As an e-CNY pilot, Wenzhou boasts a vibrant digital economy, and its opportunity of being a sub-site of the upcoming Asian Games also creates favorable conditions for e-CNY to penetrate into the lives of its people. Experts show that the distribution of e-CNY consumption subsidy by Meituan in Wenzhou may hopefully facilitate the popularization of e-CNY in Wenzhou and effectively subsidize the daily consumption of its citizens so that they can enjoy the universal benefits and convenience of e-CNY.

Meituan’s distribution of the e-CNY red packets this time will last until June 30. It marks an important move of the scenario supporting institutions after the e-CNY pilot landed in Wenzhou. Meituan said that, as the preferred service platform for Wenzhou citizens in daily life, it would continue to promote the integration of the e-CNY into Wenzhou people’s life under the guidance of relevant departments. In the future, more e-CNY promotions will meet the public.

Since January this year when Meituan rolled out an e-CNY payment channel for all scenarios and launched the e-CNY livelihood & consumption subsidy, Meituan has allegedly driven a total of 6.4 billion yuan of livelihood consumption. Among them, more than 92% of the e-CNY livelihood & consumption subsidy flowed to small but high-frequency consumption scenarios in people’s daily life, such as take-out, grocery shopping and catering, effectively reviving offline consumption and spurring the development of small and micro-sized brick-and-mortar merchants.

According to the data, as of March this year, more than 2.5 million users have received e-CNY red packets and used e-CNY via Meituan. “using e-CNY via Meituan” has become a mainstream spending trend for residents in the pilot areas of digital RMB.

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