Shares of Meituan (03690), China's leading e-commerce and food delivery platform, surged 7.35% on Monday, outperforming the broader market, as investors rallied behind Beijing's coordinated stimulus efforts aimed at reviving the country's sluggish economy and boosting consumer spending.

The surge in Meituan's stock price came amid a broader rally in Chinese consumer stocks, driven by the government's recent announcement of a series of measures, including interest rate cuts, potential recapitalization of state banks, and swap facilities to support the onshore stock market. These efforts, which could pump several trillion renminbi into the economy, have injected optimism into a market that has largely been abandoned by investors in the past year.

Analysts and strategists believe that consumer-focused companies like Meituan could be among the biggest beneficiaries of the stimulus package, as it aims to bolster job growth, provide cash handouts to lower-income households and parents, and ultimately revive consumer confidence and spending. With sales growth in the consumer sector decelerating to recent lows, the influx of stimulus is expected to reignite demand and potentially boost corporate earnings in the coming quarters.