Fireworks are shoot off from evening on New Year’s Eve up to the 15th day of the New Year, after that time life goes back to the routine day to day events.
The morning of New Year’s Day children wake up early and greet their parents and they will get gifts of money wrapped in red envelopes. Red is a lucky color here in China. Then everyone will visit with family and friends the larger the family the more time is needed. The celebration lasts until the 15th day of the New Year.
Joss paper or Spirit Money is burnt at traditional Chinese funerals, an offering to remember ancestors or at New Year as a way to ensure riches in the year to come. Joss is made of bamboo but rice paper can also be used and some is printed to look like money although it is not real and the burning of real money is thought to bring bad luck.
Children will parade around with lanterns that they have made or bought. It is also a time of lantern shows and Folk dances everywhere.
Some of what I have written is from my own experiences so far but for things that I haven’t seen yet I went to two different web pages: http://www.theholidayspot.com/chinese_new_year/tradition.htm http://www.nationsonline.org/oneworld/Chinese_Customs/joss_paper.htm