Guònián de shíhou, zhǎngbèi huì gěi háizi hóngbāo.
During Chinese New Year, elders give children red envelopes.
Tips
usage
长辈 refers to anyone from an older generation — parents, grandparents, uncles, aunts, or older family friends. The opposite is 晚辈 (wǎnbèi, younger generation). 同辈 (tóngbèi) = same generation.