Chinese welcome in the Year of the Dragon A massive firework display has lit up the skies above Beijing to celebrate the Chinese New Year. This year is the Year of the Dragon, a powerful, mythical creature that is believed to bring good luck in many Asian countries. Traditionally fireworks, which were invented by the Chinese, are believed to have first been used to scare off a man-eating monster. Now they are simply an indispensable part of New Year celebrations. The Lunar New Year, or the Spring Festival as it also known, is an important event in China. For many, it is the only holiday when they get to spend time with friends and family. Celebrations are set to last for 15 days.