New Year's money (called "Bilishi" in Guangdong) is one of the festival customs. Its true origin is unknown. Legend has it that it is to ward off evil spirits. After the New Year's Eve dinner on New Year's Eve, the elders give lucky money to the younger ones to wish them a safe New Year's Eve. New Year's money is the gift that children look forward to most in the New Year. It is said that lucky money originated earlier, but it really became popular nationwide during the Ming and Qing Dynasties.
In ancient times, there were two types of lucky money: special money and general money. Special New Year's money is an imitation. Its material may be copper or iron, and its shape may be square or long. The money is usually engraved with "good luck", "good fortune, longevity and joy", "long life", etc.
Some of the lucky money is given directly to the younger generation, and some are placed at the foot of the bed or beside the pillow after the younger generation goes to bed. New Year's money is originally meant to be a blessing. In folk culture, New Year's money means warding off evil spirits and exorcising ghosts, and bless peace. The original purpose of New Year's money was to suppress evil spirits and drive away evil spirits. Because people thought that children were vulnerable to evil spirits, they used New Year's money to ward off evil spirits.
In Jiaxing Prefecture, there is a family named Guan. The couple had a son in old age and regarded it as the apple of their eye. On New Year's Eve, they were afraid of evil spirits coming to harm their children, so they played with them. The child wrapped eight copper coins in red paper, unwrapped it, unwrapped it again, and played with it until he fell asleep. The eight copper coins wrapped in it were placed next to the pillow. The couple did not dare to close their eyes and stayed next to the child all night long.