Crowd members reach out to touch a lion dancer during Chinese New Year celebrations in New York's Chinatown district February 3, 2011. The Lunar New Year began on February 3 and marked the start of the Year of the Rabbit, according to the Chinese zodiac. [Photo/Agencies]

New York City Mayor Michael Bloomberg offered his best wishes on Thursday to the city's Asian- American community for the Lunar New Year.

"New York City's Asian-American community has made invaluable contributions to our City, and this week's Lunar New Year events provide a terrific opportunity to celebrate," said Bloomberg in a statement.

He spoke about the significance of the Year of the Rabbit as a wise and considerate sign and extended his Lunar New Year wishes to New Yorkers with a heritage in China, Korea, Vietnam, Cambodia and other parts of Asia.

"As many New Yorkers exchange red envelopes and watch the dragon troupes dancing in our streets, we can all reflect on what we have already accomplished together, and look forward to the challenges ahead," he said.

The Empire State Building in New York celebrated the Lunar New Year by lighting up its tower red and gold on Wednesday and Thursday night, which has been an annual tradition since 2001.

Meanwhile, hundreds of New Yorkers gathered in Chinatown to participate in the Lunar New Year's Day Firecracker Ceremony and Cultural Festival to celebrate the Year of the Rabbit.