Chinese New Year 2012 will be celebrated on Monday, Jan. 23, marking the beginning of the year of the water dragon and the 4709th year of the Chinese calendar. The holiday is the most important in China and will be met with scores of fireworks and festivities in China, Taiwan and across the globe. Preparations have begun for the Chinese New Year festivities across the globe. In China, families clean their home, hang red banners with messages of good luck, pay respects to ancestors and begin to plan and prepare meals for Jan. 23. Many families will cover their homes with red paper lanterns and decorations signifying "good fortune," "wealth," "longevity" and "happiness."
Moreover, China will celebrate the national holiday for the week of Jan. 23 to Jan. 27. Equity markets in Hong Kong and China will be closed as the country rings in the Lunar New Year.
