Digital hongbao business booms

Giving red envelopes, or hongbao, full of "lucky money" to his employees during Lunar New Year is a tradition for Ma Huateng, CEO of Tencent Holdings.

It was this tradition that prompted Ma to conceive the idea of sending lucky money online during the nation's most important celebration, he said.

"Chinese people, especially in Guangdong province, usually give lucky money to friends and relatives during the Spring Festival holiday. So why not try sending the money via the Internet, given that we have developed a large number of online users?" Ma said.