Meituan's On-Demand Local Services Provider Highlights Earnings and Innovations in 2023

Meituan's Financial Triumph in the Gig Economy

On-demand local services provider Meituan, with its 7.45 million delivery workers, amassed an incredible 80 billion yuan (approximately US$11 billion) in total income. Company co-founder and CEO Wang Xing has made it clear that insurance for occupational injury is a priority for 4.5 million of these workers.

Support for Gig Workers

This effort aligns with Beijing's push to enhance the welfare of gig workers across China, where the gig economy encompasses around 23 percent of the nation's workforce. As per the National Bureau of Statistics, the total number of gig workers reached 200 million over the last three years.

• Employment flexibility and part-time roles drive the gig economy.
• Meituan and Ele.me, both key players, employ over 11 million delivery workers together.
• Meituan's financial results reflect ongoing success despite economic challenges.

Innovations in Delivery and Services

Wang also highlighted the company’s initiative towards stimulating the low-altitude economy with self-developed drones. They have successfully completed over 300,000 orders in major cities, including Shenzhen and Shanghai.

Furthermore, services such as Pinhaofan for group purchases and Shenhuiyuan for discounts are enhancing customer engagement, showcasing how Meituan adapts its service portfolio to meet market demands.

As a response to support gig economy participants, the company hires an average of 5,000 new graduates annually. Looking forward, Meituan aims to recruit 6,000 graduates from the graduating class of 2025.