In addition to being a huge cultural event Chinese New Year has a major impact on the logistics sector, so we thought we'd stitch together eight well known and less well known stats and facts about the celebrations.

1. According to the Chinese lunar calendar the lunar new year begins on February 17 and this year is the year of the horse. Expect these animals to influence product and merchandise design for new year festivities.
2. Chinese New Year represents the world's largest annual human migration. 9.5 billion passenger trips are forecast for the 40 day spring / CNY period.
3. There's a massive spike in domestic consumer spending. For example, in the first holiday week period of 2023 retail and restaurant sales in China exceeded $140 billion.
4. The tradition of Hongbao, giving money in red envelopes, is going digital. WeChat reportedly processed 1 billion Hongbao transactions on Chinese new year's eve.
5. Over 90% of factories in mainland China are expected to be shut for at least 7 – 10 days.
6. Container throughput at major ports such as Shanghai, Shenzen and Ningbo can fall by 30 – 50% during the new year period.
7. Freight Rates can experience major fluctuations. In 2024, for example, ocean freight rates on the Shanghai – Los Angeles sector experienced swings of +18% before the main holiday and -14% after.
8. The operational impact of Chinese New Year is significantly longer than the holiday. Many factories stop accepting new orders weeks before the start, then shipping and labour bottlenecks persist for a few weeks after the festival as life returns to normal.

恭喜發財 / Kung Hei Fat Choi / Wishing you prosperity / Happy new year