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The Lantern  Festival falls on the 15th day of the 1st lunar month, usually in  February or March in the Gregorian calendar. As early as the Western Han  Dynasty (206 BC-AD 25), it had become a festival with great  significance.
This  day's important activity is watching lanterns. Throughout the Han  Dynasty (206 BC-AD 220), Buddhism flourished in China. One emperor heard  that Buddhist monks would watch sarira, or remains from the  cremation of Buddha's body, and light lanterns to worship Buddha on the  15th day of the 1st lunar month, so he ordered to light lanterns in the  imperial palace and temples to show respect to Buddha on this day.  Later, the Buddhist rite developed into a grand festival among common  people and its influence expanded from the Central Plains to the whole  of China.
"Guessing  lantern riddles"is an essential part of the Festival. Lantern owners  write riddles on a piece of paper and post them on the lanterns. If  visitors have solutions to the riddles, they can pull the paper out and  go to the lantern owners to check their answer. If they are right, they  will get a little gift. The activity emerged during people's enjoyment  of lanterns in the Song Dynasty (960-1279). As riddle guessing is  interesting and full of wisdom, it has become popular among all social  strata. 
In the daytime of the Festival, performances such as a dragon lantern dance, a lion dance, a land boat dance, a yangge  dance, walking on stilts and beating drums while dancing will be  staged. On the night, except for magnificent lanterns, fireworks form a  beautiful scene. Most families spare some fireworks from the Spring  Festival and let them off in the Lantern Festival. Some local  governments will even organize a fireworks party. On the night when the  first full moon enters the New Year, people become really intoxicated by  the imposing fireworks and bright moon in the sky