Business owners and operators across Canada are starting the year 4706 off on the right foot.

No, they're not into extreme long-term planning. They're celebrating Chinese New Year, which officially began on Feb. 7.

From B.C. to the Maritimes and points in between, Chinese-Canadian business owners and operators are recognizing the Year of the Rat this week with banquets, sales and other celebrations.

Although the rat is often reviled in North America because it's viewed as a carrier of disease, the rodent on the Chinese zodiac is revered for its craftiness and ability to hold on to items of long-term value.

"What we try to do is let our members experience the Chinese business culture," says Grace Xin, national executive director of the Ottawa-based Hong Kong Canada Business Association (HKCBA). "Also, we create an excellent opportunity for them to network."

The HKCBA, which represents 1,500 primarily small and medium-sized business owners and managers and promotes trade between Canada, Hong Kong and other parts of China and Southeast Asia, is staging banquets in cities across Canada, including Vancouver, Calgary, Edmonton, Ottawa and Toronto.

While some companies are looking to boost their bottom lines, Xin says the HKCBA's goal is simply to hold events that help members get together.

"Our association is primarily a networking association," she says. "We just provide opportunities for people to meet."

Wenran Jiang, acting director of the University of Alberta's China Institute, says networking around Chinese New Year is taking on greater importance for all Canadian companies — regardless of their heritage and owners' ancestry — as China becomes more important on the global economic scene.

"It's one of those times when all China-related ventures begin to do more intensive networking," says Jiang.

"People do realize that there's Christmas and there's New Year. But the Chinese New Year, I think, is a particular time to cement further business ties. Other than friends and family, I think the culture of getting together is very important."

He says many businesses use Chinese New Year's as an opportunity to capitalize on a "China-market angle."

"They may not even be run by Chinese Canadians," he says.

"But they nevertheless take advantage of the Chinese New Year season to have different functions and meetings," says Jiang.

"At the University of Alberta, we're having receptions and we're taking the Chinese New Year time to make announcements on certain initiatives," says Jiang.

The U of A was planning to make announcements regarding programs funded through the China Institute's $37-million endowment, including faculty and student-mobility programs, awards and funding-application approvals.

"Traditionally, Chinese New Year time is auspicious, but then you always want to take the time to go beyond that, basically, to use this as another occasion of advancing whatever you're doing in relation to China," says Jiang. "That's been more and more realized by businesses related to China, whether they're run by Chinese-Canadians or people who have nothing to do with the Chinese heritage but have an important business dimension in China."

He points to Edmonton's bilingual school, which is funded by the city's public school board and is using the occasion to promote Chinese immersion courses.

Chinese New Year is always a good time for the food industry, adds Jiang. He predicts Chinese grocers and restaurants will do extremely well this week.

Henry Lee, the chairman of the Vancouver Board of Trade who emigrated to Canada from Hong Kong in 1969, says Chinese New Year "definitely is a very busy time" for retailers such as the T&T grocery store chain, restaurants and other Lower Mainland enterprises that sell food products to customers who have connections to China. "Even though the Chinese population is so big (in Canada), from my point of view, it's mainly a food fest," says Lee with a chuckle.

Shops that sell kumquats, Chinese blossoms and other plants traditionally given out at this time of year will also thrive.

Lee says Chinese-Canadian businesses regard Chinese New Year as a chance to create a festive atmosphere — and make money. Clothing retailers will also hold major sales.

"Some companies will celebrate Chinese New Year like a Thanksgiving sale," he says.

The Vancouver Board of Trade is hosting a gala Chinese New Year dinner that's designed to increase business ties between firms operated by people of Chinese descent and business operators of Canadian ancestry.

Lee expects most business associations hold events that involve firms operated by Chinese-Canadians.

But Lee, co-chairman of Tom Lee Music, which is named after his father, says his company is not doing anything special for Chinese New Year.

"For us, we're a mainstream business," he says. "So we kind of go with the Canadian culture more than the ethnic culture."

(Monte Stewart can be reached at monte@businessedge.ca)