In China it is called 'ya sui qian' (圧歳銭 in Chinese characters, literally means 圧-pressing, 歳-year, 銭-money) which means that by giving money from adults to children in the New Year, children can avoid curses and live peacefully and quietly throughout the year according to folk beliefs, because the pronunciation of '歳' and '祟' (curse) is the same in Chinese.
中国では「圧歳銭」と呼ばれるが、これは中国語で「歳」と「祟」が同じ発音であり、年始に大人が子供に金を与えることで子供を襲う祟りが抑えられ、その一年を平穏無事に過ごすことができるという民間信仰から来ている。