Chinese New Year (CNY)
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The Chinese New Year, also known as CNY, is the most significant holiday in China, often called the Lunar New Year or the Spring Festival.
Factories close during CNY because most factory workers travel long distances to celebrate the holiday with their families.
Factories are typically closed for at least a week during CNY, resulting in extra closures, delays, and disruptions in the weeks before and after the holiday.
Factory closures lead to a decrease in production as factories are either shut down completely or operate at reduced capacity for at least four weeks.
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