China’s most important festival is almost here. In celebration (and for cold, hard cash) nearly all of Beijing's shopping malls have launched their biggest annual sales. Lingerie brand 6ixty 8ight is slashing prices during its big sale--with most clothes/underwear costing between RMB15-195. Women's label Forever New at Joy City Xidan is taking 20-50 percent off on all products, with high-fashion boutique Mr. Ms offering 70 percent discounts on all items to prepare for a "refreshment" of products.

Also, a number of new openings are happening around town. World-renowned label Mont Blanc just opened their very first concept boutique in The North Village. This four-story building in the center of The North Village will stock a full line of products, including a top-of-the-line watch collection, high-quality stationary, fine jewelery and leather items. Street brand Chocoolate also will open a shop in Sanlitun Village with some limited edition items available. In Wangfujing, Japanese bag brand Samantha Thavasa opened their doors at Beijing APM, featuring cute, yet functional design.

Make your CNY shopping plans early, because on Chinese New Year's Eve (Sunday, Jan. 22), most shopping malls and department stores will close around 6pm. During the Spring Festival holiday (Mon., Jan. 22-Sat., Jan. 28), opening times will generally run from 11am to 9pm.

Shimao Department Store
All winter clothing discounted by 20-70 percent. Shoe brand Walker Shop is offering a whopping 62 percent discount, while prices on Hush Puppies are being slashed by up to 60 percent. Free parking available. Until Jan. 21

Grand Pacific Mall
Winter clothing is getting slashed by 70 percent. The mall is also preparing lots of fun promotions like a lucky draw, a gift exchange with shopping points and an indoor temple fair between Jan. 14 and Jan. 21. Until Jan. 22

Glory Mall
Shoppers who spend over RMB100 can get a chance to win prizes. Shoe brand Map is offering a half price discount on all winter boots, and MUJI is giving 30-50 percent discounts on selected clothing and furniture. Local brand Broadcast will give RMB40 off to those spending over RMB100. Also, casual label Lacoste is having a 20-30 percent discount on most items.

Florentia Village
All fashion brands are slashing prices by 30-80 percent, with more sales and a lucky draw available during the Spring Festival. Until Feb. 6