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Traditionally, Red envelopes or red packets (Cantonese: lai sze or lai see) (利是, 利市 or 利事); (Mandarin: 'hóng bāo' (红包); Hokkien: 'ang pow' (POJ: âng-pau); Hakka: 'fung bao'; are passed out during the Chinese New Year's celebrations, from married couples or the elderly to unmarried juniors. It is also common for adults or young couples to give red packets to children. Red packets are also known as 壓歲錢/压岁钱 (Ya Sui Qian, which was evolved from 壓祟錢/压祟钱, literally, the money used to suppress or put down the evil spirit ) during this period.[

Red packets almost always contain money, usually varying from a couple of dollars to several hundred. Per custom, the amount of money in the red packets should be of even numbers, as odd numbers are associated with cash given during funerals (帛金: Bai Jin). The number 8 is considered lucky (for its homophone for "wealth"), and $8 is commonly found in the red envelopes in the US. The number six (六, liù) is also very lucky as it sounds like 'smooth' (流, liú), in the sense of having a smooth year. Sometimes chocolate coins are found in the red packets

Odd and even numbers are determined by the first digit, rather than the last. Thirty and fifty, for example, are odd numbers, and are thus appropriate as funeral cash gifts. However, it is common and quite acceptable to have cash gifts in a red packet using a single bank note – with ten or fifty yuan bills used frequently. The act of requesting for red packets is normally called (Mandarin): 讨紅包, 要利是. (Cantonese): 逗利是. A married person would not turn down such a request as it would mean that he or she would be "out of luck" in the new year.