Many civilisations have their own set of calendaring systems depending on their cultural, religious evolutions etc. There are many different calendar so each has their own new year and not only China has a different one.
The so call common calendar we all are familiar and using today is the Gregorian calendar only becomes defacto standard in recent time either in 19th or 20th century so that everyone has a common reference for trades, communications etc. As to why Gregorian and not others become the de facto standard you must thank the European for colonising the world in the last few centuries. But even the Europeans are not using the same calendar they used thousand of years ago.
But many countries are still referncing their own calendars for various reasons eg. agricultural, cultural, religious etc.
After world war 2 the United Nations proposed to establish a new calendar but postponed the issue after a veto from the USA.
Suggest you start reading from here:
http://en.wikipedia.org/wiki/Calendar
http://en.wikipedia.org/wiki/Calendar_reform