In traditional Chinese culture, red envelope refers to a monetary gift which is given to children by the elder generation during the Spring Festival.
The significance of red envelope lies in the red color, which symbolizes good luck and blessings.
In addition, there is another type of red envelope presented by the younger generation to the elder generation, which reflects the wish of longevity for the elder generation.
In a broad sense, the present red envelope refers to the red packet that contains money presented on some joyous occasions, for example, weddings and opening of new stores and so on.
Sometimes, it also refers to the money of bonus or bribery. Presenting and receiving the red envelope is a traditional custom of Chinese, which displays an interpersonal relationship of reciprocal courtesy among Chinese.
The red envelope culture exists obviously in places where Chinese people reside.