Giving hongbao, or red evenlopes, is the prefect gift for Spring Festival

Hongbao, a red envelope containing small amounts of money, is a gift that is guaranteed to be warmly received, not just because of the cash, often a token amount, but also because of its traditional symbolism and best wishes for the future. This is true throughout China, but especially in the south where people regard receiving hongbao as an auspicious beginning to the New Year.

Legend in the south has it that a devil used to appear to harm children and the elderly but loud noise would frighten the devil away, as did the color red.

Firecrackers took care of the noise and during Spring Festival couplets containing verse or prose also helped keep him at bay.

But firecrackers, by definition, might annoy more than the devil and they couldn't go off all day so children and the elderly also got hongbao, red envelopes containing money.

The tradition has survived millennia and giving hongbao to children and the elderly remains popular among Chinese people all over the world. It has also made its way into workplaces where bosses often give employees hongbao and most recently, companies have adopted online marketing strategies where hongbao are distributed.