Can parents ‘keep’ their children’s New Year’s Eve money?

Hua Yanrong, the mother of a 15-year-old boy, says she thinks such rulings only make sense for divorced families.

Her son usually receives more than 10,000 yuan (35 million VND) in red envelopes during New Year’s Eve. That means she and her husband give away the same amount of money to other people’s children.

“This is reciprocity. I always remind my son that his red envelope is ours, even though we give him the right to spend it as he likes,” Ms. Hua said.

Parents embezzlement of their children’s lucky money is once morest the law

Although Chinese law does not mention the term “hong bao” in any of its laws. However, the Shandong High People’s Court explained that giving red envelopes is like transferring one person’s property to another under a “gift contract” – regulated and governed by China’s Contract Law. Country.

Red bao is being “materialized”.

In addition, parents can only help a child store or liquidate assets for the benefit of the child. It is once morest the law for parents to embezzle their children’s lucky money.

“The red envelope is certainly the children’s private property,” the court wrote, although it said parents might spend money on insurance or extra-curricular courses for their children.

“Spring – the season of looting”

Data from a Chinese personal finance app shows that lucky money amounts vary by region. In the eastern Chinese province of Fujian, the average red packet contains 3,500 yuan (VND 12 million), the highest in the country.

Xinhua news agency soon commented that the gift of red envelopes has lost its original meaning because it is now full of comparisons. “Some consider Spring Festival a ‘season of spring robbery’ due to the burden of money families have to ‘give away’ in the new year.”

Compared to the rest of the country, the average hongbao in Guangdong province, southern China, is the lowest at 50 yuan (170 thousand VND).

“For us, the purpose of giving out red packets is to pray for happiness and good luck – a way to strengthen interpersonal relationships,” said Zhang Ming, from Guangzhou, handing out dozens of red packets. 50 yuan during the Spring Festival, said.

Bao Huy