Internet giant Tencent reported record user participation in sending and receiving digital "hongbao" or red envelopes containing gift money on the eve of the Lunar New Year via WeChat, its mobile messaging platform. Internet company Tencent on Monday reported record user participation in sending and receiving gift money on the eve of Spring Festival via its messaging platform. The company said it had received more than 1 billion yuan ($921 million) worth of hong-bao from users since last year. These latest figures highlight the growing number of mobile users in China and the increasing acceptance of third-party payment and other internet financing services, says one analyst.
Internet giant Tencent reported record user participation in sending and receiving digital "hongbao" or red envelopes containing gift money on the eve of the Lunar New Year via WeChat, its mobile messaging platform. The company said it had received more than 1 billion yuan ($921 million) worth of hong-bao from users since last year. These latest figures highlight the growing number of mobile users in China and the increasing acceptance of third-party payment and other internet financing services, says one analyst.