October 1st 1949 was the memorial day for the founding of the People’s Republic of China. One thing should be noted is that the PRC was not founded on that day. Actually the Chinese independence day was September 21st 1949. The grand ceremony held at Tiananmen Square on October 1st 1949 was to celebrate the forming of the Central People's Government of the brand new country. Later on October 2nd 1949, the new government passed the ‘Resolution on the National Day of the People's Republic of China’ and declared October 1 to be the Chinese National Day. Ever since 1950, every October 1st has been grandly celebrated by Chinese people.
Chinese National Day is celebrated on October 1st every year to commemorate the founding of People’s Republic of China. On that day, lots of large-scaled activities are held nationwide. Besides, the 7-day holiday from Oct. 1st to 7th is called "Golden Week”, during which more and more Chinese people go traveling around the country.