Hongbao places financial burden on New Year celebrations

Pu, 27, who works in Beijing earning a monthly income of 4,500 yuan ($720), has drained his savings by returning to his home in Penglai, a county in Shandong province, for Chinese Lunar New Year.

"Instead of racking my brain for gift ideas, I choose to give money. It's much easier," said Pu, who refused to give his full name.

At Spring Festival, it is a tradition for families and friends to get together and give younger generations cash sealed in a red envelope, known as hongbao.

However, this custom, which is supposed to add happiness and festive flavor to the holiday, has placed a heavy burden on Pu and his peers.

Pu's family members all reside in rural areas. As the only college diploma holder and only person who works in a big city, he is the pride of his family and is assumed to be richer than many of his family members.

"I gave my parents 4,000 yuan in total and my cousin's kids 600 yuan each," said Pu. "A few years ago 200 yuan would suffice, but now giving 200 yuan is kind of losing face and my relatives would think I am mean."

Pu attributed the rise in hongbao to high inflation. "Two hundred yuan cannot buy nice clothes," he said. "Everything is rising except my salary."