Digital red packets have become integrated into the lives of Hong Kong residents in recent years. According to one of the "Statistical Highlights" reports released by the Legislative Council in 2024, 60% of Hong Kong residents have used mobile payments. The report cites data from HSBC PayMe, one of the stored-value payment instruments referenced, which revealed that its users sent over 5.3 million digital red packets during the 2023 Chinese New Year, totaling more than HK$85 mn. On average, a digital red packet is worth HK$16.
LegCo Member: "I have never distributed a digital red packet"
Legislative Council member Shiu Ka-fai, representing the wholesale and retail sector, believes that digital red packets can cater to the needs of environmentalists and young people. They offer more designs and enhance great fun. However, he stressed that traditional physical red packets remain mainstream in Hong Kong. "Physical red packets give people a more traditional feeling, allowing one to personally convey blessings to others. Digital red packets are not necessarily distributed in person, and the experience is quite different!" He admitted frankly that he has never distributed digital red packets in the past few years.
According to Kwan Cheuk-chiu, Director of the ACE Centre for Business and Economic Research, digital red packets are not yet very popular. One of the main reasons is Hong Kong's high accessibility, which influences citizens' payment preferences.
"Generally speaking, it only takes one to two hours to reach any part of Hong Kong, so during the Chinese New Year, citizens prefer to visit relatives in person, and naturally tend to give red packets face-to-face."
He also noted that due to the city's high accessibility, Hong Kong residents tend to shop in person and use cash payments more frequently. He believed that cash red packets would continue to be the mainstream form of red packets in the near future.
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