Tencent Holdings founder Pony Ma Huateng will not hand out red packets to employees for the Lunar New Year, the first time this has happened in nearly two decades, as China deals with the spread of the Wuhan coronavirus.

Shenzhen-based Tencent has cancelled its traditional hongbao handout to staff on the first working day after this year's Spring Festival, which is on February 1, according to a post released on the company's social media account on Tuesday.