Chinese New Year Red Money Envelope HongBao American Banks Advertising Promo Lot. Made for banks including Citibank, East West Bank and United Commercial Bank. 11 packets and a few loose envelopes, sizes of packets vary as does number of envelopes in the packets. We estimate around 75-100 pieces total. Chinese Red Envelop is Known as Money Envelope or Hong Bao or Lucky Money Bag. It is believed to put red envelope with prosperity coin inside the purse or pocket can bring more money luck. Chinese Money Envelopes are one of the suggested gifts for Chinese New Year. In China, people put money inside the red envelopes and give away to other people or children in Chinese new year. These Lucky Money Bags can also be used at party or wedding.