Today, is the 1st day of the Ghost Festival. It is celebrated during the 7th month of the Chinese Lunar calendar.
During this month, the gates of hell are opened up and spirits are free to roam the earth where they seek food and entertainment. These spirits are believed to be ancestors of those who have forgotten to pay tribute to them after they had died, or those who have suffered deaths and were never given a proper ritual for a send-off.
Family members would offer prayers to their deceased relatives and would burn joss paper. Such paper items are only valid in the underworld, which is why they burn it as offering to the ghosts that have come from the gates of hell. Like in the material world, the afterlife is very similar in some aspects, and the paper effigies of material goods would provide comfort to those who have nothing in the afterlife. People would also burn other things such as paper houses, cars, luxury goods to appease the spirits.
One of the most significant things about the Ghost Festival is the getai. These are live performances meant to entertain the spirits and give the "brothers" a good time during their month out.