According to legend, during the tumultuous years of the Five Dynasties and Ten Kingdoms (907-960) period in the 10th century, a monk could be seen wandering about carrying a hemp sack, which is called a budai in Chinese.

Known as a result as Monk Budai, he visited Fenghua in today's Ningbo in Zhejiang province, to spread Buddhism and before he died, he revealed that he was the manifestation of the Maitreya (or future) Buddha.

Since then, Budai has become widely worshipped, and is depicted as having a potbelly and laughing, making him a symbol of joy and optimism. He is also referred to as the "Laughing Buddha", or Mi Le, in Chinese.