Hong Kong and its tech-savvy residents may have fully embraced digital banking, but companies continue to offer unique and fancy red envelopes, or lai see packets, to clients as an inexpensive way to promote their brand and business.
HSBC and ICBC (Asia) have taken the opportunity presented by the Year of the Snake starting on Wednesday to promote key milestones. Hong Kong's largest bank is celebrating its 160th anniversary, while ICBC completes 25 years in the city. The Hong Kong Gold Exchange, meanwhile, is using lai see to promote its rebranding after being known as the Chinese Gold & Silver Exchange Society for the last 114 years.
HSBC has created a special limited edition set of lai see envelopes featuring the bank's iconic lions and depictions of its Hong Kong headquarters across different eras.
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"Despite the emergence of e-lai see, we have observed a consistent demand for lai see envelopes, which tend to run out quickly," said Cheuk Shum, head of marketing for wealth and personal banking at HSBC Hong Kong, noting that the bank also offers e-lai see services through its PayMe and mobile phone apps.
HSBC's limited edition lai see box set to celebrate its 160th anniversary in the Year of the Snake. Photo: Handout alt=HSBC's limited edition lai see box set to celebrate its 160th anniversary in the Year of the Snake. Photo: Handout>
Shum added lai see envelopes were an important tradition as they allowed people to personally greet friends and family and wish them well.
It is a Chinese tradition for married couples to give lai see, or blessing money, to unmarried friends and family members, including children, during the first seven days of the Lunar New Year.
Many of HSBC's lai see box sets are now being flogged on the online marketplace Carousell, ranging from a few hundred dollars to as much as HK$3,800 (US$488).
ICBC has incorporated a special 25th-anniversary logo on its lai see - a golden serpent symbol signifying blessings and prosperity.
Hong Kong Gold Exchange has sent out more than 60,000 lai see packets with its new logo to bestow a "house full of gold and silver" for its users.
"Sending out lai see packets for the Lunar New Year has come at an opportune time to promote our rebranding since January 1," said Cherry Lai, a spokeswoman for the exchange. "Each lai see packet costs only about HK$1, an extremely cost-effective way to market ourselves and to send new year blessings to our contacts."