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small red envelopes containing money, usually given by married couples to younger unmarried relatives & friends during Chinese New Year or special occasions (i.e. birthdays); Chinese tradition.

literal translation:
ang = red
pau = packet
On the morning of the first day of Chinese New Year, Mom and Dad, as is customary each year, handed me an angpau containing $100!
by lin77 July 16, 2008
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