Within China, regional customs and traditions concerning the celebration of the Chinese new year vary widely. People will pour out their money to buy presents, decoration, material, food, and clothing. It is also the tradition that every family thoroughly cleans the house to sweep away any ill-fortune in hopes to make way for good incoming luck. Windows and doors will be decorated with red color paper cuts with popular themes of "happiness", "wealth", and "longevity". These can be incredibly intricate and detailed. It's really fun to watch a traditional paper artist make one of these with just a piece of construction paper and scissors.
On the Eve of Chinese New Year, supper is a feast with families. Food will include such items as ham, ducks, chicken and sweet delicacies. The family will end the night with firecrackers. Early the next morning, children will greet their parents by wishing them a healthy and happy new year, and receive money in red paper envelopes. One of the best things about Chinese New Year, is that it is a tradition to reconcile; forget all grudges, and sincerely wish peace and happiness for everyone. Then everyone goes outside and lights firecrackers and fireworks. On that day and the next, and the next, and the next, until every foreigner steadily goes crazy.
Although the Chinese calendar traditionally does not use continuously numbered years, outside China its years are often numbered from the reign of the Yellow Emperor (which sounds vaguely racist, if you ask me) But at least three different years numbered 1 are now used by various scholars, making the year 2011 "Chinese Year" 4709, 4708, or 4648.
I will be spending this New Year's in Beijing, but shortly thereafter will go to Xi'an as we (finally) got tickets.