Photo: AP Photo/Eugene Hoshiko
The Chinese New Year, also referred to as the Lunar New Year, begins on February 10 and the Chinese have begun preparing for the festival at home and in Malaysia, Indonesia, Australia and India. China is witnessing “chunyun” or a 40-day migration of students and migrant workers to their home for the New Year holiday.
This year marks the year of the snake. Analysts will be watching the spending patterns of consumers to gauge the economic recovery in China.
Everyone else will be watching the celebrations.
Millions of Chinese travel from cities to their homes for the Chinese Lunar New Year that begins February 10.
There are expected to be 210 million trips made by train, 29 million by plane, and 820,000 buses operating during the rush.
According to Chinese mythology the mythical beast Nian that would arrive on the first day of the New Year to eat livestock and crop.
But Nian was afraid of the colour red which is why decorations for the festival are overwhelmingly red. The colour is also said to symbolise virtue and truth.
Dragon dancers perform on the streets at Manila's Chinatown district of Binond, in Manila, Philippines.
Taiwanese shoppers start hunting for bargains at a market in Taipei ahead of the New Year celebrations.
The CLSA released a feng shui index based on the signs of the Chinese zodiac that features lighthearted predictions for financial markets, property and celebrities in Hong Kong ahead of the New Year.
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