Every year, the community, which is approximately 4,000 members strong, comes from different parts of Mumbai to the Kwang Kung Temple in Dockyard Road to celebrate the festival, which they say is the only one that is popularly celebrated in the city.
While New Year is celebrated on February 10, the community gathers on New Year's Eve to meet and greet each other and light the incense sticks.
This year, the celebrations started as the clock struck 11 pm on February 9 after Mumbaikars from other communities also joined in by visiting the temple and listening to stories about it from members of the community.
While Peter Paul Liu (with the dragon costume) beat the drums to start the celebration, other members of the community put on the dragon suit and danced on the street to a loud cheer from onlookers who were immediately mesmerised.
The dance concluded with the dragon climbing up the stairs of the temple, and returning to greet the audience again as members of the community wished each other a 'Happy New Year'.
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