Over the weekend, Chinese people around the world welcomed the New Year of the Dragon with fireworks, firecrackers, dancing dragons in the street and family celebrations. According to legend, the fireworks are supposed to ward off evil spirits and, in particular, scare away the mythical monster Nian, which supposedly rose from the bottom of the sea at the beginning of the new year to prey on people and livestock in the villages. An old man is said to have chased the monster away with bamboo torches and red candles and decorations. Red is still the most important color for New Year’s decorations today. Money gifts for the children, for example, are traditionally given in red paper bags called hongbao (红包）