Parents vs. Children: Who Really Owns the Lucky Money?

Compiled from: Beijing Haidian District Court
 
During the Spring Festival, besides setting off firecrackers, one of the most anticipated things for children is receiving New Year's money. New Year's money is a traditional custom of the Spring Festival, where elders give it to younger generations, symbolizing safety and smoothness. But are these words familiar to you?
 
"The lucky money is exchanged for the lucky money Mom gives to others, so this money still belongs to Mom."
 
 “Dad wants to buy a new computer. How about we use your lucky money to buy it?”
 
"You're too young to spend your New Year's money. We'll save it for you for now." 

 
The [1] The People's Republic of China Civil Code
Article 19
A minor aged eight or above is a person with limited capacity for civil conduct, and any civil legal act shall be performed by his or her legal agent or with the consent or ratification of the legal agent; however, the minor may independently perform civil legal acts that are purely beneficial or that are appropriate to his or her age and intelligence.
 
Article 35
[1] Guardians shall perform their guardianship duties in accordance with the principle of acting in the best interests of the ward. Except for safeguarding the ward's interests, guardians shall not dispose of the ward's property.
[2] When performing guardianship duties, guardians of minors shall, in making decisions related to the ward's interests, respect the ward's true wishes based on the ward's age and intellectual condition.
[3] When performing guardianship duties, guardians of adults shall respect the ward's true wishes to the greatest extent, and ensure and assist the ward in carrying out civil legal acts appropriate to the ward's intellectual and mental health condition. Guardians shall not interfere in matters that the ward is capable of handling independently.
 
 
[1] The author's perspective
[4] The gift money given to a child by others is essentially a donation, which is also a civil legal act that brings pure benefits to the child. Therefore, regardless of whether the child has full civil capacity, the acceptance of the red envelope gift is valid, and the red envelope belongs to the child.
 
[5] Although the gift money belongs to the child, whether it can be freely used depends on the specific circumstances. If the child is under eight years old, the parents shall manage it on the child's behalf; if the child is eight years or older, they may purchase stationery, toys, food, etc., engaging in civil legal acts appropriate to their age and intelligence. However, purchasing large items or making large in-game purchases or tips requires parental consent or ratification.
 
[6] However, as guardians, parents shall properly keep the child's gift money and perform their guardianship duties in accordance with the principle of benefiting the ward. Parents shall not misappropriate it for their own purchases, thereby harming the ward's property rights and interests.