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Story summary
- Alibaba Group announced a 3 billion yuan campaign for its Qwen app, which will launch on February 6, offering free orders and cash red packets.
- Tencent Holdings launched a 1 billion yuan promotional campaign for its Yuanbao app, offering cash incentives through digital red packets.
- Analysts question whether these subsidies will meaningfully affect the crowded AI market.
- Both campaigns aim to capitalize on the Spring Festival's marketing potential.
