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Chinese auction. A Chinese auction is a combination of a raffle and an auction that is typically featured at charity, church festival and numerous other events. Can also be known as penny social, penny sale, tricky tray or pick-a-prize according to local custom, or to avoid causing offense.
The official name of the Chinese currency is the Yuan, but it is more commonly referred to in China as the Remimbi-which literally means People's Currency-and this i â¦ s written on the notes.