During Chinese New Year, the young give oranges to the elders in a form of respect. In return, the elders give the young, angpao, which contains money. This action is to wish both sides a happy new year. They do this for every Chinese New Year. The young usually give not only one, but a pair of oranges during Chinese New Year to the elders. Orange colour also symbolizes good luck. That's one of the reasons they use oranges in Chinese New Year.
It is a form of respect for the young to give oranges to their elders during Chinese New Year.
-MengHong

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