Giving
Hongbao (Red packets or Red envelopes) during Chinese New Year is another
tradition. A Red packet is simply a red envelope with money in it which
symbolizes luck and wealth. Red packets are typically handed out to younger
generations by their parents, grandparents, relatives, close neighbors and
friends. Money given like this may not be refused and the pretty envelope makes
the present seem less vulgar. The immediate family give presents to
children on New Year's Eve. This is called Ya Sui Qian, meaning
"suppressing age money," which is supposed to stop children from
getting older. This comes from the belief that everyone becomes one year
older on New Year's Day. Red is the lucky color and will bring good
luck to the person receiving the present.