Since my arrival a week ago, with crescendoing intensity, fireworks have peppered the night and, not infrequently, the daytime. Last evening, they began at 4PM or so and went until midnight. The streets are also festooned with red lanterns. The holiday is an ancient one and marks the end of the Spring Festival. As usual, Wikipedia has a very good description of the holiday and what it entails.
Imagine being there when they lit these daisy chains of explosives off? Pretty exciting!