The details of the calculations are well described in many places and there is no point in repeating them here. Instead, what follows is a list of those festivals which occur in the Chinese calendar and are observed as holidays in China, Hong Kong and elsewhere. The Chinese New Year , and the two days following, are observed through much of Asia and wherever there are significant concentrations of Chinese population. It is customary to pay of debts, get new clothes and clean the house. There is usually a big family meal and sacrifices are offered to the Gods.
Holidays can be three or even five days long.
The 3rd day is also the Birthday of Che Kung. The same dates are also true for Tet in Vietnam and the Lunar New Year in Mongolia . Yahoo has a page dedicated to the Chinese New Year . The Lantern Festival occurs on the 15th day of the 1st month. The belief is that spirits can be seen flying about on the night of the first full moon of the year, so people go out with lanterns looking for them.