Celebrating China's Dragon Boat Festival

Racing throughout China, Hong Kong and Taiwan today were brightly painted canoes with dragon-shaped heads. The Greater China Region celebrated the Dragon Boat Festival, a public holiday that falls every year on the firth day of the fifth lunar month.

Held in honor of Qu Yuan, a patriotic poet-statesman who challenged the Chinese government at that time, the Dragon Boat Festival has grown into a popular tradition in the since the Warring States period, or third century BC. Like most of China's highly venerated historic figures, Qu was a tragic hero.

The story is told that Qu questioned the Chinese government, and as a result was banished from the Greater China Region. After his failed patriotic cause, Qu is said to have committed suicide by jumping into the Miluo River.

And that's why today's festival in honor of Qu involves boat races between rowing teams. The races are supposed to represent how rural Chinese jumped into their boats in an attempt to rescue Qu. Rice cakes wrapped in bamboo leaves, or zongzi, have been traditional fare during the celebration as well.

Despite the failure of Qu's patriotic actions, today his legacy still lives on. In fact, the Chinese government even praises Qu as a patriot seeking what was best for his country. In Chinese history, patriotism has often outweighed personal gain. For two thousand years, at the encouragement of the state, Confucian scholars placed patriotism above individual success.

So those who defied overwhelming odds and sacrificed themselves for a noble collective cause, like Qu Yuan, are celebrated in China. And that's why the Dragon Boat Festival was made an official holiday in 2008, with banks and stock exchanges closing for the day in honor of the celebration.

Sponsored Links

What's happening in the world's major foreign markets right now? Will current events affect the stocks in your portfolio? Read InvestorPlace Asia's Top Stories to find out everything you need to know in order to stay on top of global economic news.

more...

Every country has its own special customs and traditions. Being familiar with a country's culture can often make a difference in whether you gain or lose from investing in its stock market. Check out our culture section to learn more about the societies of the world's fastest-growing emerging economies.

more...

There's a lot happening around the world today, and it's important to know how it's affecting your investments. Watch the latest videos covering important Asia topics!

more...