Chinese New Year, also known as Spring Festival or Lunar New Year, is the grandest festival in China, with a 7-day long holiday. As the most colorful annual event, the traditional CNY celebration lasts longer, up to two weeks, and the climax arrives around the Lunar New Year's Eve. China during this period is dominated by iconic red lanterns, loud fireworks, massive banquets and parades, and the festival even triggers exuberant celebrations across the globe.