You may simply say "Hong bao" or "red packet", the foreigners understand if they are familiar with Asia, especially China, Hongkong, Singapore and Malaysia. You only need explain a little bit, this red packet which is given to children for Chinese New Year, that's all. My husband and his friends understand a lot of things about China and Asia cos they've been stayed here more than six years!
Hong bao Chinese “Hong bao” (Red pocket money)--ActiveChinese Submitted by lucky on Thu, 2007-01-11 18:37。 Chinese “Hong bao” (Red pocket money)--ActiveChinese Are you confused about the Chinese traditional “Hong Bao”? What’s the meaning of a “Hong Bao”? Then how to give a “Hong Bao” appropriately? While instructing Chinese as a second language, I’ve found that foreign students are more interested in Chinese culture。
Maybe the material followed from will attract you。 In China it is a tradition to give “Hong Bao”, or little red envelopes filled with money, for special occasions。
The amount that you put in the hong bao depends on how close you are to the recipient, and what kind of occasion it is。 It can range anywhere from 20 Yuan to a thousand Yuan。
If you feel uncomfortable giving a Hong Bao during holidays, weddings or births, you can respect your own country’s custom of giving gifts and most Chinese will be very grateful for your thoughtfulness。
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money given to children as a lunar New Year gift,这是最贴和中文的翻译,而lucky money则会显得比较地道．建议你用前者，因为前者不光表达了压岁钱这个意思，更加体现了中国的传统文化，可以与其他诸如红包，红利等分开．
lucky money
压岁钱就是红包： red paper bag with gift money;
“压岁钱”英语怎么说？ NEW YEAR'S BONUS
压岁钱money given to children as a lunar New Year gift
Excuse me, how to say"New Year's Money" English?
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