This question is mostly answered by the Annual Chinese Calendar Name. We Filipinos are strongly influenced by Chinese traditions.
Well here goes the facts about the New Year.
What is the Name of Chinese Year 2012?
The Chinese calendar name of 2012 is
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Zen is Water and Chen is Dragon in Chinese Horoscope.
Therefore, 2012 is also called Water Dragon Year.
From Chinese Five Element theory, 2012 is also named as the Black Dragon.
Dragon is a legendary animal and it is symbol of emperor in China. Since the Dragon is coated with mysterious color, Chinese consider that the dragon is unpredictable, untouchable and people cannot see its head and tail at the same time. Therefore, we can might see something unexpected happening in 2012. Also a person with too many dragons in the Chinese astrology birth chart will become smarter, sly and unpredictable in the coming year.
Source: http://www.chinesefortunecalendar.com/NewYear.htm