Mahayana Buddhists celebrate the new year by honoring and praying for Buddha and other deities. Every Buddhist is expected to visit a nearby temple to light candles which are believed to bring happiness and good luck for the commencing year. Songs are sung as an offering to deities while statues of Buddha are washed as a sign of respect.
On this day, Buddhists meditate and reflect on their life in the previous years with the objective of identifying and correcting any wrongs they may have done as a new year’s resolution. As a belief, they also buy new clothes, decorate the home, and give gifts to beckon good luck. With the festivities, one can never miss sweets and the ceremonial fireworks at midnight.
https://www.worldreligionnews.com/religion-news/new-year-traditions-mahayana-buddhism