The New Year’s Day is a public holiday in China and if it falls on a Saturday, like this year (2022), you have the China State Council that extends the holiday to Monday 3rd since Saturday is normally a non working day. And I think it’s a smart way of doing things.
The New Year’s Day is called yuán（元）dàn（旦）or yuán（元）dàn（ 旦） jié（节）where jié（节） means festival.

How to celebrate the New Year’s Day in China
Since it’s a three-day holiday, most people will spend those days travelling if they have enough money or enjoy one’s bedroom to the fullest and stay at home. But if you live in China and earn a decent salary, it’s worth visiting other parts of China during those three days and make your life more colourful. China is a country with very convenient and cheap transportation means. You can travel by plane, train or bus at a very low price.
If you just want to stay around, there are many events organized around New Year’s Day eve and you can buy a ticket to those events and make the new year day countdown there.
In most large mainland cities, fireworks are not allowed because of the air pollution, but if you live in a city where fireworks are allowed, you can look for an event that offers a firework show at the end of the countdown or you can buy fireworks yourself and light it for the new year.

How to say Happy new year in Chinese
Yuán（元）dàn（旦） jié（节） kuài（快）lè（乐）that’s it. You can also say xīn（新）nián（年） kuài（快）lè（乐）， However, this one is preferably used for the Chinese new year celebration that happens in January or February depending on the lunar calendar.
This will be the end of the article, I hope you have learned something useful, if you have anything to say, you are welcome to leave a message in the comment section. Wish you a happy new year and a life full of happiness and fulfilment.