辞旧迎新
cí​jiù​yíng​xīn

seeing off the old and welcoming the new

  1. 辞 辭 cí verb
    to say goodbye
    To take one's leave or bid farewell to someone.
  2. 旧 舊 jiù adverbadjective
    the past
    (bound form) former state of affairs; things or people from the past
  3. 迎新 yíng​xīn
    to welcome the new
    To welcome the arrival of the New Year or the Spring Festival; often used in the phrase 辞旧迎新 cí​jiù​yíng​xīn to mean seeing off the old and welcoming the new.