HSBC Holdings Plc is splurging out HK$500 ($64) to each staffer in Hong Kong in the traditional red packets to mark the Lunar New Year.
(Bloomberg) — HSBC Holdings Plc is splurging out HK$500 ($64) to each staffer in Hong Kong in the traditional red packets to mark the Lunar New Year.
The lender, which employs more than 20,000 people in the city, will distribute the cash through an e-Lai See on Jan. 20, according to an internal memo seen by Bloomberg News. The memo was confirmed by a bank spokesman.
Giving red envelopes containing cash is an annual tradition across much of Asia as a way to bring good luck for the upcoming year, which this time is symbolized by the rabbit. The era of electronic payments has seen the rise of the e-Lai See.
“Despite the headwinds in 2022, once again we came out the other side stronger and more resilient,” Luanne Lim, the bank’s Hong Kong chief executive, said in a memo, adding that the rabbit is “a symbol of vigor, energy and wittiness.”
Rival lender Standard Chartered Plc is distributing HK$100 in red packets to its staff in the city, along with Hong Kong Disneyland tickets, it said in a statement.
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