The rise of social networking platforms, such as WeChat, Momo, Laiwang and Sina Weibo has changed the way people in China interact, while providing a new avenue for sellers and marketing firms, reports the Beijing-based Economic Daily.

Instant messaging app WeChat launched a virtual red envelope during the Chinese New Year holiday earlier this year, which attracted a large number of users, who were able to give electronic versions of "hongbao" - red envelopes containing cash traditionally handed out during Chinese New Year - to family and friends on their contact lists. The feature increased contact among people who had not been in touch for a while.

Companies are now looking to profit as people expand their social networking circles, and take advantage of the considerable traffic on their platforms. Figures released by Chinese internet giant Tencent, which owns WeChat, showed that its active users were more than 600 million in China, and it is now available in over 200 countries and regions as of 2013.

Savvy entrepreneurs are also eyeing the potential business opportunities of the platforms, and a number of WeChat users are taking to the instant messaging app to provide overseas shopping services for various products, including cosmetics, clothing, and luxury items, the paper said.

Wang Jingjing, a 30-year-old Chinese national who travels to the United States almost every month on business, said that she has opened a virtual store on WeChat to help her friends buy products in the US. She charges a 5% fee for the items.

The deals made on WeChat and other related apps are risky however, the paper said, as they are not protected by consumer protection laws. Meanwhile, some companies are also encouraging WeChat users to help them market their events on their personal pages in exchange for discounted gifts.