Lunar New Year: Why is China pinning hope on the festival to boost economy?

About 1.4 billion people began marking the Lunar New Year on Tuesday amid fireworks as China enters the Year of the Fire Horse, one of 12 animals in the Chinese zodiac.

Known as the Spring Festival in China, the new year, based on the lunar calendar, also brings about the world’s largest annual human migration, called Chunyun, as millions travel across the country for family reunions.

It i...