IDN-InDepth NewsAnalysis | IDSA. The Chinese New Year celebrations formally began on January 23. China has become 4710 years old as per its lunar calendar. This year will be known as the Year of the Dragon, which symbolises strength and prosperity. The New Year celebration is one of the longest and the principal festive season for the Chinese: the official holiday itself extends over a week or two. Tibet and Tibetans, however, have to wait a little longer for their New Year celebrations. Popularly known as Losar, it is celebrated from the first to the third day of the first Tibetan month, which corresponds to February 22-24, 2012. This year will be known as Year of the Male Water Dragon.