Many Mahayana Buddhists wait for the first full moon and first day of the lunar year, which usually falls mid-January, to celebrate the new year.
Why is it important?
Mahayana Buddhism is the dominant faith of Northern and Eastern parts of Asia including China, Korea, Japan, Mongolia and Tibet. Among the key traditions include Zen, Tiantai, Korean Seon, Chinese Chan, Pure Land and Nichiren.
The movement is characterized by a grandiose cosmology, often complex ritualism, paradoxical metaphysics, and universal ethics.