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.

The 12-year cycle in the Chinese calendar recognizes each of a dozen animals in the Chinese zodiac – rat, ox, tiger, hare, dragon, snake, horse, sheep, monkey, rooster, dog and pig. 2007 is the Year of the Pig.

The New Year also is considered “everyone's birthday,” a day on which all become a year older and gift giving is prevalent. “Gong Xi Fa Cai” is a typical greeting and means “wishing you luck and prosperity.”

根据中国传统五行学说，中国古人把历史发展按60年一甲子重复编排，他们认为每60年一个轮回中，事物发展就像草木随四季更替一样生长、繁茂与衰败。而其中的丁亥年则是由衰而盛的关键性转折年，它意味着从丁亥年开始，各种事物都将开始一个长期的发展和繁盛阶段 . . .

按中国人将的五行学说，分金木水火土五行，每年都有不同的属性。五行中的“金”，是60年轮回一次，因此,加上十二生肖中的“猪”，就构成了“金猪年”.

From http://www.flickr.com/photos/hl-wang/