China is celebrating Thursday the first day of the Chinese Lunar New Year, which is the Year of the Rabbit.

Millions across the globe celebrated at midnight with lion dancers, firecrackers and family feasts. The party lasts for almost two weeks and makes up the most important celebration in the Chinese calendar.

The rabbit is the fourth of 12 astrological signs in the Chinese Lunar Calendar. Each sign is said to influence the course of life, much like the Western zodiac.

The rabbit is associated with compassion, sensitivity and flexibility. It also symbolises happiness and good fortune. The Year of the Rabbit is believed to be a peaceful one and is expected to bring both stability and change.

This year's combination of metal as an earthly sign and the rabbit as a heavenly sign resulted in the year of the Golden Rabbit.

The snowy and chilly weather across China did not dampen the cheer of hundreds of millions of celebrating people who returned home for the holiday.

About 700 million people had traveled home in what is considered the world's largest annual human migration.

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