they will stay here until their demands are met. stephanie prentice, bbc news. more than a billion people around the world are celebrating the chinese new year, also known as the spring festival or lunar new year. here s what you need to know about one of the world s biggest festivals from karl riley. chinese new year is the biggest festival in china. it s also known as the spring festival or lunar new year. it marks the first new moon in the chinese lunar solar calendar. which is based on cycles of the moon and the earth. in 2022, the festival falls on1 february. chinese new year has been celebrated for centuries. 0ne legend says it began with the defeat of the beast. it was chased away by villagers with red colours, bright lights. fireworks.