The origins of Chinese New Year go back thousands of years. According to legend, a monster named Nian (NEE-yahn) would attack villages at the start of each year. No number/amount of fighting or pleading could stop the bloodthirsty creature. Then one year, the villagers discovered that loud noises and the color red frightened the beast, so they used those things to chase it away
Since then, people celebrate the victory over Nian at the beginning of each new year. This is why you’ll see a large number/amount of red in decorations and clothing, as well as loud fireworks and firecrackers, in Chinese New Year festivities.