Impact of Lunar New Year on China’s Economy

Approximately 1.4 billion people celebrated the Lunar New Year on February 17, 2026, marking the Year of the Fire Horse, a time associated with optimism and independence. This Spring Festival not only fosters family reunions but also represents the world’s largest annual human migration, known as Chunyun, significantly boosting domestic consumption in China’s economy. The festivities include traditional practices like family dinners, exchanging red envelopes, and various cultural performances. Celebrated globally, the holiday also features distinct traditions in countries like Vietnam and South Korea, enhancing its multicultural significance.