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Columbia Threadneedle Investments: Chinese New Year is a red-letter day even as tech marches on

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3 Feb 2020

Columbia Threadneedle Investments: Chinese New Year is a red-letter day even as tech marches on

Technological developments are changing almost every facet of our lives – even how we celebrate this most traditional festival.

It is traditional at Chinese New Year to give children a red envelope of “lucky” money. By doing this, people hope to pass on a year of good fortune and blessings. Even though my family and I live in the UK, my wife and I still want our children to experience some of the traditional elements of Chinese culture, so we’re delighted to continue the practice. And thanks to technological developments our children can even receive them from relatives still living in Asia, only now they are “digital red envelopes”.

This is a perfect example of how tech advancements are playing out in China and, indeed, the rest of the world. The inexorable rise of smartphones over the past five years or so has changed the way businesses operate and consumers behave in almost all ways. And as 2020 gets underway we expect the emergence of 5G to be key in furthering these changes.

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