Gift giving is often a highly visible social behavior which individuals perform among family members and social or business friends. The importance of the symbolism of gifts would suggest that social referents may affect the purchase decisions for gifts. One's social referents are often determined by one's cultural background or affiliation. We propose that the behavior of gift giving among Hong Kong consumers is mediated by such Chinese cultural values as face saving, reciprocity and guanxi (relationship). This paper summarizes the literature on Chinese cultural values and then develops a more parsimonious model to explain the influence of Chinese cultural values on gift giving. Propositions are developed based on this comprehensive model for future testing.