Big Tech’s red packet war for Lunar New Year sees less cash given away as campaigns try users’ patience

Published Feb 03 2022 at 10:00 PM GMT
  • Chinese Big Tech companies’ seasonal rush to offer billions of yuan in electronic red packets, known as lai see in Cantonese, for the Lunar New Year holiday fell short of last year’s offerings, a sign of intensified competition among the country’s consumer-facing technology giants.
  • Alipay, Baidu, JD com, Kuaishou Technology and ByteDance’s Douyin, the Chinese version of TikTok, among other Chinese tech firms, pledged to hand out a total of 84 billion yuan (US$1.3 billion) in cash for the Spring….



  • Published Feb 3, 2022 10:00 PM GMT