红旗 (hóng qí) literally means 'red flag' — composed of 红 (hóng), meaning 'red', and 旗 (qí), meaning 'flag'. While it refers to any physical red flag, in modern Chinese usage it most commonly denotes China’s national flag, the Five-Star Red Flag (五星级红旗), which features a large yellow star and four smaller stars on a red field. The color red symbolizes revolution, prosperity, and good fortune in Chinese culture, giving the term strong patriotic and historical resonance.

Beyond its literal meaning, 红旗 appears frequently in institutional names (e.g., Red Flag Magazine), place names (e.g., Hongqi District), and idiomatic expressions like 红旗不倒 (the red flag stands unshaken), implying enduring strength or continuity. It is also used metaphorically in contexts such as 'raising the red flag' — but unlike English, this phrase is not common for signaling warnings; that sense uses 警告旗 or more often the idiom 拉响警报.