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People Around The World Are Going All Out For Chinese New Year Celebrations [PHOTOS]

Mamta BadkarFeb 10, 2013, 01:37 IST

AP Photo/Eugene HoshikoThe Chinese New Year, also referred to as the Lunar New Year, begins on February 10 and the Chinese have begun preparing for the festival at home and in Malaysia, Indonesia, Australia and India.

China is witnessing "chunyun" or a 40-day migration of students and migrant workers to their home for the New Year holiday.

This year marks the year of the snake. Analysts will be watching the spending patterns of consumers to gauge the economic recovery in China.

Everyone else will be watching the celebrations.