Li Chun, which falls around Feb 4 each year, marks the start of spring and was celebrated in the old days by Chinese farmers hoping for a prosperous year.
It is the first of 24 solar terms under the Chinese calendar. On the Gregorian calendar, it would typically last from around Feb 4 to Feb 18 each year.
It also often refers to the day when the sun is exactly at the celestial longitude of 315 degrees.
A clear day on Li Chun signified a good harvest through the year for farmers, while a rainy day would warn them to be cautious about their crops.
The date now has a modern twist. Many believe that depositing money into their bank accounts on this auspicious date could help grow their wealth.
However, Master Yow P. K. from Serene Astrologer and Trading, said of the practice: "It's just a myth that has been popularised by social media. There's no such belief in Chinese custom. For a good year, it is better to invest the money or make a donation to a charity."