China Minsheng Banking Corp. Ltd. (CMBC) is offering toys to children who want to open their first account by depositing their "hong bao" money. China Construction Bank (CCB) is playing up to college graduates' egos by issuing a series of elitist credit cards to those who fulfil their criteria based on family and educational background.

    Some Chengdu-based insurance companies are also offering medical insurance at special rates and education financing program for children, according to Sunday's West China City Daily.

    While banks and insurance companies target the Chinese middle-class, private companies take advantage of their working-class employees.

    Lu Qingzhou, who works in a local factory of 500 workers in Gushan town of northeastern Liaoning Province, has to give "hong bao" to curry favor with factory managers.

    He is content with a monthly salary of 1,200 yuan but he grits his teeth at the prospect of spending more than 1,500 yuan on whathe calls "public relationships".

    "Every time my leaders or their relatives hold parties, I hand out 'hong baos'. I have to do this as it keeps me in with a chanceof promotion," he said. "If I refused to give away that money, I could be squeezed out of my position," he said.

    The curse of the "hong bao" has become so great for some Chinese people, particularly for migrant workers, that some chooseto avoid returning home for the Spring Festival.

    Qin Yunhua, from Pingyu County of central Henan Province, has made his living by collecting rubbish off the streets of Taiyuan, capital of Shanxi Province, for nine years. He has not gone home for five years.

    "I earn about 10,000 yuan every year. I would rather spend 400 to 500 yuan celebrating the holiday alone here than hand out 1,000 yuan to relatives in my hometown," 26-year-old Qin said.

    "My relatives who farm in rural areas think I am richer than them since I work in the city. Once they see that my gifts are not as pricey as they expected, they think I am mean. I don't want to lose face, but I don't want to give away my hard earned money either," he said.

    "People need to care for each other more than giving cash. It is not necessary to look impressive and show your love by spending beyond your financial capabilities," said Ding Ruiping, a sociologist with Shanxi Academy of Social Sciences.

Related:

"Hong Bao" heavy pressure to urban professionals

    BEIJING, Feb. 24 (Xinhua) -- Shanghai office manager Xu Bin felt forced to feign illness when he told his family he couldn't return home for Chinese New Year. He was actually sick of being required to give out "Hong Bao" -- red envelopes stuffed with cash.

    The traditional custom of giving "Hong Bao" used to be cute, fun and good for a family laugh. Now there's an expectation the little red envelopes will get thicker and thicker each year, forcing those with good jobs to give away more and more of their hard earned wages.

    Most Chinese remember with delight receiving little red envelopes from their grandparents and parents during Chinese New Year. In return for kneeling at the feet of grandpa and offering three quick kowtows, which were accompanied by an often witty New Year's wish for good health and happiness, a youngster would received a red envelope containing candy money.