Hong Bao .
Red envelopes are gifts presented at social and family gatherings such as weddings or holidays such as Chinese New Year. The red color of the envelope symbolizes good luck and is a symbol to ward off evil spirits. It is also gifted when a person is visiting as a gesture of kindness for visiting. The act of requesting red packets is normally called tao hongbao (Chinese: 討紅包; pinyin: tǎo hóngbāo) or yao lishi (Chinese: 要利是; pinyin: yào lì shì), and in the south of China, dou li shi (Chinese: 逗利是; pinyin: dòu lì shì; Cantonese Yale: dau6 lai6 si6). Red envelopes are usually given out to the younger generation who are normally still in school or unmarried.
Happy New year.
HongBAO
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