In 2007, Chinese New Year is celebrated on Sunday, Feb. 18.
Each year, the Chinese New Year celebration falls on the date of the first new moon on the Chinese lunar calendar, which can be in late January or early to mid-February.
Arrival of the New Year is an important celebration on the Chinese calendar. It’s a time for cleaning house, repaying debts, enjoying feasts, distributing “laisee” packets (red envelopes that hold gifts of money), remembering ancestors, and renewing family ties. The festival lasts for at least 15 days, until Yuan Xiao, or Feast of the Lantern.