Not only is the choice of gift important in Chinese culture, but how much you spend on it, how you wrap it, and how you present it are equally important.

In Chinese societies, gifts are given for holidays, such as birthdays, during official business meetings, and at special events like dinner at a friend’s home. While red envelopes are the more popular choice for Chinese New Year and weddings, gifts are also acceptable.

The value of the gift depends on the occasion and your relationship to the recipient. In business settings where more than one person will receive a gift, the most senior person should receive the most expensive gift. Never give the same gift to people of different ranks in the company.