Shenzhen is among the top three cities in China, following Guangzhou and Chongqing, whose small businesses have revived fast, a report by Shenzhen Economic Daily said yesterday, quoting data from WeChat Pay.
The number of small businesses that used WeChat Pay in May in Shenzhen rose by 225 percent compared with January. Transactions increased 13 times and number of customers surged by eightfold, data showed.
Nationally, transactions of small businesses in May were five times as many as those in January and February, and the volume was doubled.
Data on more than 100 sectors such as retailing, dining and commuting showed stall economy had created 80 percent of the employment opportunities and its revival guarantees social stability and healthy economic development.
Shenzhen, Dongguan and Guangzhou have become the most dynamic cities for small businesses, followed by other cities like Xi’an, Chengdu and Foshan.
WeChat Pay data showed the stalls operated by young people aged between 20 and 29 took up by 24.6 percent of newly opened stalls in May.
Shenzhen, a young and vibrant city, had strong night-time consumption potential. Data showed 60 percent of consumption happened during night time in the city after 6 p.m.
It ranked No. 2 as the most lively night city in China, after Shanghai, in a report based on the data provided by ride hailing app Didi Chuxing and the restaurant review app Dazhong Dianping in March last year.
The report looked at eight nightlife sectors like bars, cinemas, KTVs, gyms, late-night dining, Internet cafes, entertainment and convenience stores.
The city has taken several measures to foster a robust night economy in recent years by holding light shows, shopping festivals and building a demonstration street, Dongmen Pedestrian Street in Luohu District, for the city’s night economy.