red packet

red envelope

noun (in China and other East Asian countries)

a sum of money folded inside red paper and given at the Chinese New Year to unmarried younger relatives
such a gift given at Chinese weddings by the parents to the bride and groom and by the bride and groom to unmarried younger relatives

Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012