Fatter red envelopes likely this year, says survey
By Wu Yiyao in Shanghai | China Daily | Updated: 2015-02-07 08:01
Red envelopes containing cash, or hongbao, which are given as gifts during Spring Festival, are set to get fatter this year with a growing number of Chinese people willing to loosen purse strings amid confidence that the nation's economic growth will remain stable for the full year, a survey said on Thursday.
The survey revealed 68 percent of respondents said they intend to increase the amount spent on red envelopes this year compared to 2014. On average the per capita spending on red envelopes for 2015 is estimated at about 3,168 yuan ($507).
Published by the United Overseas Bank Ltd, the survey polled 1,000 residents in Beijing and Shanghai.
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