Year of the Rabbit 2023: HSBC, Citibank, Standard Chartered among the lenders offering staff generous ‘return-to-work’ lai see, gifts
- While Citibank’s HK$688 (US$88) lai-see packet is the largest, Standard Chartered and Bank of China (HK) are giving each of their staff two tickets to Disneyland valued at HK$1,390
- HSBC and Hang Seng will give their 30,000-plus staff HK$500 each, totalling more than HK$15 million
Hong Kong’s biggest banks plan to present lai see, gift hampers and tickets to Disneyland as gifts for their staff as they return to the office on the first working day in the Year of the Rabbit.
The lai see – cash presented in vibrantly coloured packets, typically red – is a centuries-old tradition, usually given by elders to young or unmarried visitors who come calling during the festive season.
It is a Chinese tradition for companies to give their staff “return-to-work lai see” on the first working day, ranging from HK$100 (US$12.82) to HK$1,000, after the long Lunar New Year break as a token of appreciation for their dedication and hard work as well as a blessing for the festival.
The Year of the Rabbit began on January 22, but most offices resume work on January 26.
According to the internal announcements by most lenders to their staff, many banks are maintaining their tradition of a generous “return-to-work lai see”. However, some have gone further, introducing lucky draws and doling out presents, a sign that local lenders are keen on attracting and retaining staff amid a shortage of talent that has been compounded by rising emigration and Covid-19 restrictions.