TOKYO -- Relaxing in front of the television on Lunar New Year's Eve to watch CCTV's Spring Festival Gala is a tradition for more than 1 billion people in China, and the variety show airing on the state-run broadcaster provides an opportunity to gauge the state of play in the country's fast-moving internet industry.
During this year's program on Feb. 11, a presenter told the audience to open the Douyin app -- the Chinese version of ByteDance's popular TikTok short-video platform -- for a virtual "red envelope" giveaway. Viewers could use Douyin's new mobile payment service for a chance at part of the 1.2 billion yuan ($186 million) up for grabs in this spin on the Lunar New Year tradition of cash gifts.
