This is the year of the Pig/Boar. (DingHai)
There are three ways to name a Chinese year:
1. By an animal (like a mscot).
2007 is known as the Year of the Pig.
There are 12 animal names; so by this system, year names are re-cycled every 12 years.
2. By its Formal Name (Stem-Branch).
The new year is the year of DingHai.
In the 'Stem-Branch' system, the years are named in 60-year cycles, and the Name of the Year is repeated every 60 years.
2007 is the 8th year in the current 60-year cycle.
3. Current year is Year 4704 by the Chinese calendar.
[A few Chinese astrological/zodiac websites believe this year should be considered as Year 4705 for zodiac calculations.]
Each year is also designated by one of the 12 Animals For instance, 2005 is Year of Rooster; 2006 is Year of Dog; and 2007 is the Year of Pig.
This system is extremely practical. A child does not have to learn a new answer to the question, "How old are you?" in each new year. Old people often lose track of their age, because they are rarely asked about their present age. Every one just have to remember that he or she was born in the "Year of the Dog" for example.
Since this is the Year of the Pig, any one who was born in the Year of the Pig is now either 0 or 12, 24, 36, 48, 60, 72, 84 or 96 years old.
* In one sentence, the Chinese New Year is the second New Moon after the winter solstice.
It is based strictly on astronomical observations, and has nothing to do with the Pope, emperors, animals or myths. Due to its scientific and mathematical nature, we can easily and precisely calculate backward or forward for thousands of years.
* The Japanese word for "New Year's Greetings" is Kinga Shinnen.