(ANALYSIS) Red envelopes, known as hongbao in Mandarin, are a cherished cultural tradition in China and many other parts of Asia. In China, the vibrant red color symbolizes good fortune and joy. Hongbao can be given during many various festive and joyful occasions, and they are a prominent feature of Lunar New Year.
Read MoreAmong China’s traditional holidays and celebrations, none ranks higher in importance than the Lunar New Year (農曆新年). Also known as the Spring Festival (春節), or simply Chinese New Year, it marks the beginning of the year according to the traditional lunar calendar.
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