This Spring Festival, Alibaba, Tencent, ByteDance and Baidu are handing out 4.5 billion yuan in red packets. But it's not just about the money.

From payment access to AI interaction, from chasing traffic to keeping users—the digital red envelope has evolved into a strategic play for the future of how we live online. With billions spent, what are China's tech giants really buying? CGTN's Aaron Liu breaks it down.