Along Fishergate and Friargate, dozens of red lanterns have been installed in trees and from building to building to celebrate the upcoming Year of the Tiger, on February 1.
>>>Click here to learn more about Chinese New Year.
Pictures on social media have drawn scores of positive comment from people working and shopping in the city.
Julie Robinson wrote: "Absolutely gorgeous nice to see that Preston is taking part and made an effort."
Jayne Lakeland wrote: "I have just travelled down Fishergate today and the lanterns look stunning. Happy New Year to all our Chinese citizens."
Linda Crossley Weare said: "WOW fabulous , I love it."
UCLan has partnerships with seven universities in China and has thousands of Chinese students based in Lancashire.
Several city centre buildings are owned by Chinese investors and there are many Chinese restaurants in the area. Click here to see the top 10 Chinese takeaways according to Google.
Official Lancashire celebrations this year are focued on Lancaster, which is offering a New Year's Show at the Grand Theatre in St Leonard's Gate on February 5 and a K-Pop party at Glow on February 2.
There will also be a dragon and lion dancem crafts and Chinese food and drink on the city's Market Square from 10am to 4pm on February 6, and Chinese films and documentaries at The Dukes in Moor Lane from February 1 to 9.