In China and Mandarin speaking places, they call them HONG BAO. In Singapore and Malaysia, they are called ANG BAO, a Southern Chinese Hokkien dialect, both meaning the same.
These are red packages usually with some cash inside. They now are commercially printed, with gold words and pictures printed on it. They have auspicious words like FA, meaning prosperous, WAN SHI RU YI, ten thousand things/every thing is successful and soon on.
In the old days, before banks give out these empty packages, we used to make them with newspaper, and then paste a red band round it. In my dialect, we called them LI SEE, meaning something like smooth event.
These days, in big functions, they give a chocolate gold coin.
HONG BAOs are given out at all auspicious occasions, like births, weddings, birthdays,farewells, house warming, reward for doing well in exams and so on. Remember, it must be red.
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