"30% of the annual income (for many Chinatown businesses) is generated in this two-week time," explains Wong.
San Francisco Supervisor Aaron Peskin, whose district includes Chinatown, says each year, the parade draws hundreds of thousands tourists to the city, generating millions of dollars in revenue.
"The economic impacts of the Chinese New Year Parade are much bigger than Chinatown. This a parade that fills up all of our hotels, from the Hilton to the Hyatt," says Peskin. This year, many of the hotels are vacant.
There was a virtual event streamed online. And 11 oxen statues have been spread throughout the city to commemorate the lunar new year.