LOS ANGELES, Feb. 9 (Xinhua) -- The 120th Annual Golden Dragon Parade took place on Saturday in Chinatown of western U.S. city of Los Angeles, drawing tens of thousands of people to the Chinese New Year celebration with floats and marching bands.

This year's parade featured two dozen floats, multiple marching bands, Chinese and U.S. officials, entertainers, local business leaders and cultural groups. Lion and dragon dancers as well as Miss Chinatown and celebrity Grand Marshals paraded on streets crowded with people. The colorful celebrating has become the premiere cultural event in the Southern California Asian-American Community.

The parade centered on Chinese culture and exposure to Chinese-American businesses. The parade continues to be part of a rich and diverse experience for Angelenos of all ages and ethnicities, said the organizers.

"It is the commitment of this organization to celebrate the rich heritage and cultural roots of where this business community comes from," wrote the Chinese Chamber of Commerce of Los Angeles on its official website.

"With a history of over 100 years, the Annual Golden Dragon Parade has witnessed the rising of the social status of Chinese Americans in the United States," said George Tao, a local Chinese community leader.

The event also promoted the understanding of Chinese culture to the mainstream U.S. society and the friendship between the two peoples, he added.