Chinese New Year 2012 Is The Year Of The Dragon

2012 is the year of the Dragon according to the Chinese zodiac calendar, which begins on Jan. 23, 2012 and ends on Feb. 9, 2012. It is the 4710th Chinese New Year (also known as the Lunar New Year or the Spring Festival). In the Chinese Zodiac, which consists of 12 animal signs, the dragon is the 5th sign and it is regarded as an auspicious symbol which stands for power, good luck, success, and happiness.

For the first time, the Philippines celebrate the Chinese New Year as a non-working holiday throughout the country. President Benigno Aquino said the declaration of the Chinese New Year as a special non-working holiday would give both Chinese- Filipinos and Filipinos alike the opportunity to celebrate the holiday.

Origin 

The origin of the Lunar New Year Festival can be traced back thousands of years, involving a series of colorful legends and traditions. One of the most famous legends is Nian, an extremely cruel and ferocious beast that the ancients believed would devour people on New Year's Eve. To keep Nian away, red-paper couplets are pasted on doors, torches are lit, and firecrackers are set off throughout the night, because Nian is said to fear the color red, the light of fire, and loud noises. Early the next morning, as feelings of triumph and renewal fill the air at successfully keeping Nian away for another year, the most popular greeting heard is "gong xi fa cai", or "congratulations."

Source:  http://www.herongyang.com/chinese/festivals/chinese_new_year_spring_festival.html