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It comes on the first day of Chinese lunar calendar and lasts for almost half of a month. But in folk custom, this traditional holiday lasts from the 23rd day of the twelfth month to the 15th day of the first month (The Lantern Festival) on the lunar calendar. 

December 30th (lunar calendar), New Year's Eve 
Family Reunion Dinner

On New Year's Eve, people who work far away will manage to come home, regardless of long-distance travel, so the "Grand Dinner on New Year's Eve" is also called "Family Reunion Dinner". Every family will make the dinner the most sumptuous and ceremonious one in the year. Hostesses will fetch out prepared food and all family members will sit together and make dumplings in harmony. At twelve o'clock, every family will shoot off firecrackers to greet new days and send off old ones.

January 1st (lunar calendar)
Paying a New Year's vist

Following the New Year's Eve is the first day of the Spring Festival, a day for paying a New Year's vist, during which people will be busy in giving best wishes to one another. It is said that people shouldn't dump things on the first day of the new year, so that they would be able to keep whatever worth of fortune they will be in possession of in the next year.

Fifteenth day, The Lantern Festival 

The Lantern Festival, also called Yuanxiao Festival, is celebrated on January 15th of the lunar calendar. It is the first full moon night in the Chinese lunar year, symbolizing the coming back of the spring. The Lantern Festival may be regarded as the last day of the Spring Festival period. It is a good day for family get-togethers.
According to the folk custom of China, people on that night will light up fancy lanterns and go out to appreciate the moon, set off fireworks, guess riddles written on lanterns, and eat rice glue balls to celebrate the festival.

In folk culture, celebrating the Lunar New Year is also called “guonian” (literally meaning “passing a year”). It is said that the “nian” (year) was a fierce and cruel monster, and every day, it ate one kind of animal including human beings. Human beings were naturally scared and had to hide on the evening when the “nian” came out. Later, people found that the monster was afraid of the red color and fireworks. So after that, people used the red color and fireworks or firecrackers to drive away “nian”. As a result, the custom has remained to this day.

The traditional Chinese zodiac attaches one of 12 animal signs to each lunar year in a cycle. 2017 is the year of the Rooster.