Each year the date changes on the Gregorian calendar, but it's usually at the end of January or early February, to signify the beginning of a new year on the traditional Chinese calendar.

Tsing Wah Asian Grocers owner Anthony Kwong has been running a new year event for about the last nine years.

"This year was a bit smaller...I'm happy because I did no promotion at all and they still turned up," he said.

"The whole aim was for the lion dance to bring good luck and scare away all the evil spirits from the shop."

Mr Kwong said the Asian population and multiculturalism in general continued to grow in the city, which was something the event's turn out showed.

Many in the crowd donned red, which is a sign of good luck, and wishings of gong hei fat choy could be heard as people wished each other happiness and prosperity for 2020.

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The rat zodiac symbolises wealth, the beginning of a new day and strong vitality for the year ahead and plays a part in what year other zodiacs will have too.

Mr Kwong said this year meant different things to people based on their zodiac but he had looked into what it meant for people born in the Year of the Ox.

"It will be a very very good year for them, especially in studies and work," he said.

He said day before the new year was like thanksgiving, as family reunited and shared a meal.

"It's a new start, if not a better start for many people," he said.

"Today's a day where people always wear new clothes, do their best and just hope for the best year they can have because whatever happens today it will last for the rest of the year."