The Chinese New Year, or Spring Festival, is observed for two weeks. The timing varies based on the changes in the track of the new moon, but it generally begins in late January or early February. In the year 2012, the Chinese New Year begins on January 23rd. The New Year's Festival will be celebrated from midnight of January 22nd (Chinese New Year's Eve) to February 6th (Lantern Festival).
Based on the Chinese zodiac calendar, 2012 is the year of the dragon. The dragon is the 5th sign of the Chinese zodiac. The dragon is considered to be a symbol of power, success, happiness, and good luck. People born in the year of the dragon are said to be self-assured, passionate, brave, generous, smart, and witty. However, they are also considered to be egotistical and bossy.
The color red, thought to keep evil spirits at bay, is popular during the Chinese New Year Festival. Citizens often wear the color red. In addition, red banners are posted in the cities. Elder family members often offer gifts of money to younger members. Likewise, married couples may offer monetary gifts to single persons. These gifts are offered in small red and gold envelopes called "Lai See". The envelopes are usually filled with small denomination bills (not coins) and it is considered a special show of "extra thoughtfulness" to use only new bills.
Symbolic decorating traditions of the Chinese New Year include decorating the house with plum blossoms, bamboo, and pine; making a "tray of togetherness" filled with candies and sweet treats, such as candied melon, cumquat, red melon seed, lotus seed, peanuts, and coconut; the use of animals to adorn the walls (particularly animals that represent the zodiac sign, thus the dragon would be a prominent adornment in 2012); the use of Chinese lanterns, especially in bright red and golden paper, for decorating ceilings; and the use of red tablecloths and gold napkins for the table setting.
During the first five days of the Chinese New Year Festival, Chinese natives greet each other with "Guo Nian Hao," which means "Happy New Year." People may wish one another Happy New Year by exchanging "good words," sending greeting cards or e-cards, forwarding Chinese New Year "wallpaper," etc. The government wishes its citizens a Happy New Year with fireworks. As mentioned above, it is also common for cities to hang red banners in honor of the New Year.