Giving Hongbao (red packets or red envelopes) during the Chinese New Year is another tradition. A red packet is simply a red envelope with gift money in it, which symbolizes luck and wealth. Red packets are symbolically handed out to younger generations by their parents, grandparents, relatives, close neighbors and friends, and usually the immediate family gives Hongbao to the children on New Year's Eve. Money given in this way may not be refused and the pretty envelopes make the present seem more amiability and sincere.