Chinese legend has it that the money tree (搖錢樹) is a kind of holy tree, which can bring money and fortune to the people, and that it is a symbol of affluence, nobility and auspiciousness. Chinese wishing trees, money trees, and hong bao trees are a big part of Chinese New Year festivities. Every year, billions of people around the world gather to toss their red ribbons up into the wishing tree with hope that it will stick and their wish will come true for good fortune in the coming year.