(Yicai Global) Feb. 14 -- Chinese tech giant Baidu gave away its first digital cash prizes to users this Chinese New Year, matching exactly the generosity of Ant Financial Services Group's mobile payments app Alipay.

Baidu and Alipay each bestowed CNY900 million (USD133 million) worth of digital hongbao, the electronic version of China's traditional red envelopes that are stuffed with money, during China Central Television's annual Spring Festival Gala on Feb. 4. Bytedance's news aggregator Toutiao and video platform TikTok also joined in for the first time this year, offering money to their users.

Initiated by Tencent Holdings' WeChat Pay, the battle of the digital red envelopes started during the Chinese New Year of 2014 and reflects fierce competition among China's internet platforms to attract and keep hold of users.

Beijing-based Baidu, one of the world's largest internet companies, has reminded users who took part in the campaign through its financial platform to claim their red envelopes and other rewards as soon as possible, or by Feb. 16 at the latest. Baidu also plans to donate CNY200 million worth of hongbao during CCTV's Lantern Festival Gala that will air on Feb. 19, it added. 

Editor: Emmi Laine