China’s Lunar New Year box office hits 6-year low as releases fall flat

To stimulate its economy, China is targeting international tourists during the extended Lunar New Year holiday (February 10-23) to boost consumption. A joint initiative by nine government departments aims to transform the holiday into a “consumption feast.” This effort seeks to revive sluggish domestic demand following slow retail sales growth and deflationary pressure. Plans include increasing international flight capacity, improving foreign payment options, and providing multilingual guides to promote cultural tourism. The initiative also focuses on boosting domestic spending through shopping vouchers and trade-in programs. The Lunar New Year, a key consumption period, is expected to drive economic growth with its unusually long nine-day holiday.

Hong Kong welcomed 10.4% more visitors on the first day of Lunar New Year compared to last year, with a total of 153,383 arrivals recorded by the Immigration Department. Of these, over 120,000 came from mainland China. Inbound trips over the first two days of Lunar New Year totaled 265,140, representing a 7.8% rise from the same period last year. Authorities expect 1.43 million visitors from the mainland during the holiday, up by 6% from last year. The city has seen a surge in arrivals from both the mainland and overseas, with a total of 816,522 visitors over the past five days. Heavy traffic was observed on the Hong Kong-Zhuhai-Macau Bridge, with crowded bus stops at border crossings.

Hong Kong construction workers, like plumber Anson Hui Po-lung, are willing to forgo their Lunar New Year break due to financial hardship caused by the citywide removal of scaffolding nets in early December. This action, prompted by a deadly fire, suspended facade work on twenty public housing projects and 230 private buildings, impacting approximately 700 workers. As of mid-February, only a fraction of these projects have resumed under stricter fire safety regulations. Hui, who has experienced a significant income reduction, relies on small-scale repairs and is prepared to work during the holiday to cover essential expenses. The situation highlights the economic strain faced by construction workers in Hong Kong due to the safety measures implemented after the fire.

On Wednesday, an explosion at a firework shop in Zhengji township, Xiangyang, Hubei province, China, killed twelve people. The incident occurred around 2:30 pm on the second day of the Lunar New Year, and the resulting fire was extinguished within an hour. This follows a similar explosion on Sunday in Lianyungang, Jiangsu province, which killed eight and injured two due to improper handling of fireworks. Authorities have detained individuals related to the first incident as investigations continue. Fireworks are traditionally used during the Lunar New Year to welcome prosperity and ward off evil spirits.

Tens of thousands gathered in Hong Kong along Victoria Harbour to watch a 23-minute Lunar New Year fireworks display celebrating the Year of the Horse. The event, sponsored by the Hong Kong Jockey Club and costing HK$19 million, featured 31,888 pyrotechnic shells. Some visitors from mainland China planned to depart after the display, despite government efforts to encourage spending. Chief Executive John Lee Ka-chiu addressed the crowds, stating the display represented Hong Kong's spirit and vowed to align the city's development with China's 15th five-year plan. The fireworks aimed to usher in the new year with a sense of progress and achievement.

The Lunar New Year, also known as the Spring Festival, is being celebrated globally, marking the start of the Year of the Fire Horse. Celebrations began Monday night and continued into Tuesday across Asia and in diaspora communities worldwide. Festivities included temple visits, incense offerings, fireworks displays, and street festivals in countries like China, Vietnam, and Taiwan. In Beijing, crowds gathered at temples, while Hong Kong held traditional midnight rituals. Celebrations extended beyond Asia, with Moscow hosting a two-week celebration and Buenos Aires holding dragon dances and martial arts demonstrations. The Lunar New Year is a significant holiday in East Asia, representing a time for prayers, cultural events, and welcoming good fortune.

The Lunar New Year, specifically the Year of the Horse, was celebrated on February 17, 2026, with various festivities and religious observances across Asia. In Hong Kong, large crowds shopped for flowers in unusually warm weather in preparation for the holiday. Prayers were offered at temples in Denpasar, Indonesia; Yangon, Myanmar; and Taipei, Taiwan. In Hong Kong's Wong Tai Sin Temple, a worshiper was seen wearing a horse head decoration. Monks in Taipei, Taiwan also engaged in prayers on the eve of the Lunar New Year.

Lunar New Year 2026 is being celebrated globally, with millions participating in festivities from Hong Kong to Buenos Aires. The 15-day festival, tied to the first new moon of the lunar calendar and occurring between January 21st and February 20th, marks the start of a new year. The Lunar New Year is observed by many cultures, particularly those with East Asian heritage. This year's celebration corresponds with the Year of the Fire Horse in the Chinese zodiac. Celebrations include various cultural traditions and customs specific to each region and community.

In February 2026, approximately 1.4 billion people in China and across East and Southeast Asia began celebrating Lunar New Year, also known as the Spring Festival. The holiday marks the transition into the Year of the Fire Horse, according to the Chinese zodiac. This period is significant as it triggers Chunyun, the world's largest annual human migration, as people travel for family reunions. The extended nine-day holiday presents a major opportunity for China to boost domestic consumption, a key economic goal. Celebrations include family dinners, the giving of red envelopes, fireworks, and traditional performances, lasting for 15 days and ending with the Lantern Festival.

Hong Kong will celebrate the Lunar New Year and the Year of the Horse with a 23-minute fireworks display over Victoria Harbour on Wednesday at 8 PM. Sponsored by the Hong Kong Jockey Club at a cost of HK$19 million (US$2.4 million), the show is themed “Prosperity Gallops Across Hong Kong.” Thousands of pyrotechnic shells will be launched from three barges, reaching 850 meters across the harbor and 250 meters in height. The display will consist of eight scenes incorporating horse motifs and auspicious symbols, beginning with a 15-second burst of high-density fireworks. The event aims to showcase the energy and spirit of horses and usher in prosperity for the new year.

Hong Kong experienced a surge in visitors during the Lunar New Year holiday, with over 663,000 arrivals between February 13-16. A significant portion of these visitors, more than 530,000, came from mainland China, contributing to a 7.1% increase in mainland travelers compared to the previous year. The influx of tourists, who cited the city's festive atmosphere, food, and pleasant weather as attractions, filled transportation hubs like the airport and West Kowloon high-speed rail terminus. While Hong Kong saw an increase in inbound tourism, over 1.7 million residents traveled outbound during the same period. Overall visitor numbers rose by 5% compared to last year, indicating a positive trend for Hong Kong's tourism sector during the Lunar New Year.

In February 2026, China showcased its advancements in robotics during the annual CCTV Spring Festival gala, a Lunar New Year celebration. Humanoid robots were the central attraction, performing dance routines and martial arts demonstrations on stage. The event served as a platform to display China's technological capabilities to a large audience. The Spring Festival gala is a major cultural event in China, making it a significant venue for presenting new technologies. The performance highlighted the growing sophistication and potential applications of humanoid robots.

Hong Kong's tourism sector experienced a strong start to 2026, with visitor arrivals reaching 7.23 million, a 9.6% increase compared to the same period last year. The Financial Secretary, Paul Chan Mo-po, announced the figures, highlighting a significant 16.4% rise in overseas visitors. A further boost is anticipated during the Lunar New Year holiday, with an expected 1.43 million mainland Chinese visitors, a 6% increase from the previous year. This increase is attributed to the numerous mega-events and performances scheduled throughout the holiday period. The city aims to attract tourists by showcasing its blend of traditional and modern elements during the Lunar New Year festivities.

China's box office presales for the upcoming Lunar New Year holiday have fallen over 60% compared to last year, reaching only 200 million yuan by Saturday. This decline, tracked by Alibaba Pictures' Taopiaopiao, signals potentially lower audience demand for the crucial film season. The Spring Festival season has become a significant driver of China's annual box office revenue, accounting for nearly one-fifth of yearly takings. The high benchmark set by the 2025 season, boosted by the animated film Ne Zha 2, makes matching that success challenging. Analysts suggest the current supply of films for the 2026 Lunar New Year season lacks comparable breakout potential, leading to cautious expectations.

Hong Kong is preparing for Lunar New Year celebrations, beginning February 17th, and anticipates 1.43 million mainland Chinese visitors. Festivities include the Cathay International Chinese New Year Night Parade in Tsim Sha Tsui on the first day of the holiday. The parade will feature floats, local and international performance groups, and roving street performances. Other events include fireworks over Victoria Harbour and races at the Sha Tin Racecourse. The parade, expected to draw 100,000 spectators, will proceed along Canton Road, Haiphong Road, and Nathan Road, starting at 8 pm, with street performances beginning at 6 pm.

Young people in China are embracing a "Cyber Lunar New Year," blending technology with traditional customs. Instead of physical rituals, they are engaging in activities like burning digital incense, exchanging electronic gifts, and seeking comfort from AI companions. This trend includes virtual worship, with young people attending livestreams of temples and using apps that simulate religious practices for stress relief. Online temples are also offering virtual worship services, promoting them as convenient and environmentally friendly alternatives to traditional temple visits. This shift reflects a desire among younger generations to celebrate the Lunar New Year in ways that align with their digital lifestyles and offer emotional support.