“Huan ying cai shen” means Welcome the God of Wealth (Zhou Gong Ming). It’s a part of the Spring Festival holiday. The God of Wealth is welcomed by fireworks which gets really merry and noisy by midnight. Actually, this is a special holiday and fireworks are livelier than the eve of Chinese New Year. This is when Chinese people welcome and greet the God of Wealth and wish for fortune and prosperity.
Traditionally, the setting up of fireworks acts like a beacon or signal to the God of Wealth to come and visit the household and bless them with fortune for the whole new year. On the other hand, some would just simply keep their wishes deep inside their hearts and hope that the God of Wealth would listen to them and have a share of the blessings.
Personally, I’d call this and greet everyone Happy Fortune Festival!