Posted inBeijing, China, European Union, Middle East, World

China’s state-owned firms miss out on ‘lucky money’

Handing out little red envelopes containing “lucky money” is part of the Chinese New Year tradition. Known as hongbao in Mandarin and lai see in Cantonese, this expression of good fortune is deeply rooted in the Spring Festival holiday. But for state-owned enterprises in China, there will be no hongbao or lai see packets this […]