Posted 19th January 2022
The biggest holiday in China, Chinese New Year (CNY) is a huge celebration across Asia.
CNY marks the start of the new lunar year and this year is the year of the Tiger. Known as the king of beasts in China, the Tiger is a symbol of strength, overcoming evil and bravery. It starts on 1 February, with the celebrations lasting until 15 February, the Lantern Festival.
During CNY, ALL factories (and many other services and offices) in China close for the week-long public holiday, with some closing earlier and later. As a result, workers often take additional holiday before and after. This means production levels are significantly reduced and supply chains can grind to a halt.
If you trade with China, either importing or exporting materials and goods, you should be aware that shipping schedules during this period are drastically reduced, meaning space is limited and rates go up.
On top of CNY, there is ongoing Covid disruption, especially in recent weeks where some regions in China are experiencing increased measures including airport closures and lockdowns. As well as this, the Beijing Winter Olympics is running 4-20 February.
Other countries that celebrate Chinese New Year include Indonesia, Malaysia, North Korea, Singapore, South Korea, Vietnam, and Brunei but disruption in these counties is not as severe.
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