Meituan trials digital RMB and rolls out across China | Dao Insights

Meituan trials digital RMB and rolls out across China

Meituan announced a digital RMB trial on its bike-sharing platform on 9 September. Between 9 September and 31 December, anyone who searches “digital RMB” (“数字人民币”) in the Meituan app, will get credited 10 digital RMB in their bike renting account, regardless of nationality or residency.

It also needs no bank account, with the purpose of making life easier for overseas visitors. This trial is now rolling out in Beijing, Shanghai, Hainan, Shenzhen, Suzhou, Xi’an, Changsha, Chengdu, and Xiong’an. 

“I was not lucky enough to get some free digital RMB handed out by the local government, but now is my chance!” said Wang, a Beijing citizen. “As long as you register, everyone can receive the money this time.” And after the first two rides of each day during the trial period, extra bonus will be put into the user’s account. This campaign is particularly welcomed by people like Wang, who commutes by bike. It is a great way to promote both digital currency and low-carbon transport. 

Meituan was not the first one to test e-RMB. The first online transaction with digital RMB was made on JD.com in December 2020. This e-commerce giant then took a step further in January, piloting digital salaries in Shanghai, Shenzhen, Chengdu, Changsha, and Xi’an. 

As of 30 June 2021, over 7.07 million transactions of a total of 34.5 billion RMB ($5.34 billion) have been completed with digital currency, covering over 1.32 million scenarios, from bill payment, shopping to travelling, and government services. 

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