[Borderless New Year's Money]② "I received 2.22 million won in Sebaetdon"... China cracks down amid controversy over 'National Sebaetdon Rankings'

In China, ahead of the major ethnic holiday, the Lunar New Year (Chunje), a so-called 'Hongbao competition'?a contest over New Year's money?has emerged. As the price of New Year's money has skyrocketed, the media and the Chinese government have expressed concerns about the burden on elderly people in rural areas, urging restraint in giving excessive New Year's money.

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According to CCTV on the 7th, the Hongbao competition has quickly become a social issue across China, prompting local authorities to call for moderation. Hongbao refers to the red envelopes used to give New Year's money.

Originally, the appropriate amount for New Year's money in China was 10 to 20 yuan (about 1,800 to 3,700 KRW), but it has now surged to around 200 yuan (37,000 KRW). Additionally, videos on Chinese social networking services (SNS) showing children receiving large sums of New Year's money have become popular, further increasing the burden on adults.

Moreover, ahead of the Lunar New Year, a "National New Year's Money Ranking" has circulated on SNS, sparking controversy over the going rates for New Year's money. The wealthiest area, Futian in the southeastern province of Fujian, ranked first with an average of 12,000 yuan (2.22 million KRW) given, followed by Zhejiang Province at 3,100 yuan (570,000 KRW), and Beijing in third place with 2,900 yuan (530,000 KRW).

The controversy over New Year's money rates stems from Chinese holiday customs. In China, extended family members gather at the home of the eldest family member. It is common for more than ten children, including siblings and relatives, to visit.

Because of this, concerns have arisen that elderly people in rural areas with low incomes may face a heavy financial burden. Chinese media outlet Yangguangwang pointed out, "Rural elderly people have no salary income, and even if they have sources of income, they are not sufficient. While the amount of New Year's money may seem small to children, for elderly people in the countryside, it could represent a month's worth of expenses. Putting rural elderly people in such a predicament is by no means a good approach."

[Image source=Yonhap News]

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Nan Fang Dushi Bao also noted, "The distorted Hongbao culture is increasing Lunar New Year stress," adding, "Not only rural elderly but hundreds of millions of people may be suffering from invisible pressure."

The media introduced Guangdong Province's New Year's money culture as a model case. They stated, "In Guangdong, New Year's money is only 50 yuan (9,200 KRW). The amount inside the envelope is not important. Rather, the interest and respect shown are more valuable." This led some netizens to joke, "Having been born and raised in Fujian, where New Year's money is high, I should live in Guangdong."

There has also been encouragement of a new culture called 'Hongbao balance,' which suggests relatives agree in advance on an upper limit of 100 to 200 yuan (18,000 to 37,000 KRW).

To reduce the burden, even local governments in China have stepped in. Puyang City in Anhui Province distributed promotional materials before the holiday, urging rural residents to establish a proper understanding of New Year's money and to refrain from excessive giving.

Meanwhile, in Vietnam, which has a similar New Year's money culture, a crackdown on New Year's money is expected to continue. In Vietnam, there have been cases where parents who took their children's New Year's money were fined up to 30 million dong, reigniting controversy ahead of this Lunar New Year. Vietnamese law stipulates that confiscating personal property of family members can result in fines of 20 to 30 million dong. Local Vietnamese media explained, "If children are over 9 years old, their wishes should be considered when using New Year's money," and "Children aged 15 to 18 should be able to keep and use their New Year's money independently."

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