In the Year of the Rabbit, finews.asia is once again rounding up the top private banks in the region to take a look at how they are celebrating the tradition via one of its most significant customs: the gifting of red packets.
Perhaps the most defining characteristic of China’s Han Dynasty (206 BC-220 AD) was its advancement in science and technology, which most famously includes the invention of paper. But a less celebrated point is the long-lasting impact it has had on society through its cultural influence and customs that originate from the era.
According to some historians, Chinese New Year and red packets (also known as «lai see» in Cantonese or «hongbao» in Mandarin) both have roots dating as far back as the Han Dynasty. The first mention of celebrating at the start of a new year was recorded in a book authored by a Chinese agronomist at the time while red packets were believed to be gifted to ward off spirits and give blessings of good health (the original envelopes did not contain actual money).
More than 2,000 years later, both the form and function of the packets may have undergone transformation but the tradition remains, extending beyond friends and family to even, say, your banker. finews.asia reviews the lai sees at Asia’s top private banks in the Year of the Rabbit.
UBS
Asia’s largest private bank is pulling out all the stops in 2023 with an ornate bag, pouch and box alongside a golden case to hold red packets to be gifted or received.
As for its hongbaos, UBS features three designs, each with a different animal: a kirin (a legendary hooved creature) to symbolize good fortune; a deer to symbolize prosperity; and a crane to symbolize longevity.
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