The Lunar New Year, also called the Chinese New Year or the Spring Festival in China, is traditionally celebrated with tables piled with food and red envelopes filled with cash for children.
In past years, smoke from outdoor fire pits filled the air throughout the morning and afternoon, as people burned paper money to ensure that even the ancestors can feel the financial boon that the biggest holiday of the year usually brings to the living.
In recent years, however, China’s economic slowdown has altered the atmosphere of Chinese New Year. Facing increasing financial burdens, young people are reexamining long-held traditions as they welcome the Year of the Snake, opting for more frugal alternatives during this year’s eight-day-long national holiday.
A 30-year-old legal worker from Shanghai, who did not want to use his name for fear of reprisal, told VOA that stores selling trinkets and supplies for the holiday appeared unusually deserted.
He said people appear to be forgoing large purchases, which manifests mostly in the custom of giving money-filled red envelopes — the color symbolizes good luck and prosperity in the new year.
“As with goods purchased for the new year, red envelopes have become more simple and less thick,” the Shanghai resident said.
He told VOA he usually gives his niece an envelope with around $140 inside, but this year, he plans to give her $90.
Talk on social media
Frustration with the economy is being expressed on social media — young people are saturating online threads with images and comments describing the pressure and criticism they will encounter during the holiday.
An account on RedNote called “I don’t give a damn about the banana” posted a series of funny images detailing the levels of anxiety young, unmarried and unemployed people will face during the holiday.
“You haven’t earned any money but you still have to give the younger kids a red envelope,” the user wrote, over a picture of a woman giving a small bill to a cat.
Many others offer advice to ease fears of being scrutinized by the family.
“Unique-me” wrote on the Chinese social media platform Weibo: “Now the economy is not good, it’s good to just have an income. If you are in a difficult situation, you can admit that you don’t make much. There is no need to be generous. Just show your appreciation. Those who have opinions about you because of the size of your red envelope, let them have opinions.”
Faced with economic woes, some local governments are advocating frugality. Baise City, Guangxi, suggested that the amount of money in a red envelope should not exceed $3.
The initiative also encourages the younger generation to give their elders “blessing gifts” with commemorative significance or emotional value instead of red envelopes.
This move has attracted widespread attention, with many social media users expressing their support for the program’s positive impact on financial and mental health. Some suggested that blessing gifting be promoted nationwide.
Workplace anxiety
The size of red envelopes exchanged in the workplace and increasing leniency on new year vacation day allowances have stoked fears of job insecurity among employees.
“The economic downturn is not only reflected in my meager salary, but also in the red envelopes given by the boss every year,” “Life with Greed” said on Weibo.
A user called “Let’s try to be happy” commented on Weibo: “My company is in a slump. New Year gifts have not been issued. In previous years, the maximum New Year holiday was 20 days, but this year it was more than a month. I don’t know what it will be like next year. It feels like it is on the verge of bankruptcy.”
A 39-year-old government worker in Dalian, who spoke to VOA on the condition of anonymity because of security fears, said despite having a family and a stable job, she will limit her holiday spending.
“We have to reduce some unnecessary expenses, such as buying less candy and snacks, and we try to buy simple things outside when worshiping,” the wife and mother said.
The changes in Chinese Spring Festival customs are affected by many factors, but the economy is most critical, said Sun Guoxiang, a professor in the international affairs and business department at Nanhua University in Taiwan.
“The economic downturn has led to a decline in consumption capacity. Young people pay more attention to rational consumption and actual needs, which reduces the relatively high-cost parts of traditional Spring Festival customs,” Sun said, adding that pressure from family about issues that include work, marriage and education cannot be ignored as drivers of this trend.
He said the future of Chinese New Year and how it will be celebrated will depend heavily on China’s development and whether the country can overcome its current economic decline.
