It is the first full moon of the Chinese year.
The Lantern Festival marks the coming of spring, with the hundreds of
lanterns sent up into the sky representing longer daylight hours as
well as the light from the full moon. In Ancient China, it served as the
equivalent of Valentine's Day in the West. Chinese New Year taboos are
also declared over on the festival.
The Lantern Festival has been celebrated since the days of the Han Dynasty around 2,000 years ago, which culminated with the spread of Buddhism across China. According to legend, Emperor Hangmindi, who ruled around the beginning of the first century, saw that Buddhist monks would light lanterns on the 15th day of the Chinese year to show respect to the Buddha, and ordered that the tradition be repeated in the Imperial Palace.
This year the display was titled "Kingdom of Vigorous Monkey".