It's the greeting for Happy New Year for the Chinese New Year, the year of the goat.

Chinese New Years Eve Celebrations Held At Dharmayana Temple
(Photo by Agung Parameswara/Getty Images)
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Doing a little homework, the Urban Dictionary says "gong xi fa cai" literally means may you attain greater wealth.

Gong Xi means wishing/blessing.

Fa means enlarge(ment).

Chai means wealth.

The phrase is generally used to wish a Happy New Year. So Gong Xi Fa Chai, y'all.

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