Sydney set to host one of biggest Lunar New Year celebrations outside of Asia in 2017

She said the city will collaborate with principal partner Westpac in lighting Sydney's most famous landmarks in auspicious red for three nights to welcome the Year of the Rooster from January 27 to 29.

Painting the town red will highlight the sails of the Sydney Opera House, the Sydney Harbour Bridge, Circular Quay Station, Sydney Town Hall and other Sydney landmarks.

Westpac's General Manager for Retail and Premium Bank Bernadette Inglis said the bank recognised the incredible contribution the Chinese community makes to Australia and is excited to partner with the City of Sydney for the second year in a row to celebrate the Lunar New Year.

"The Chinese community remains one of Westpac's largest multicultural audiences," Inglis said.

"We are looking forward to seeing iconic Sydney landmarks lit up in red," she said.

More than 1,000 performers from the Chinese, Korean, Thai, Vietnamese and Japanese communities across Sydney will bring the city's streets to life with hip hop, children's performances, folk dance, martial arts, kung fu and traditional dance performances.

Meanwhile, Pyrmont Bay Park will be transformed into a pop-up food festival filled with Asian cuisine, live entertainment and culture.

The final weekend of the festival which falls on Feb 11 and 12 will feature the excitement and thrill of the Dragon Boat races where 3000 paddlers will converge on Darling Harbour for the largest Dragon Boat regatta in the Southern Hemisphere.