Determine if the sentence is true based on the text below. Choose from options.
The Chinese New Year's Day falls on the 1st of February in 2003.

As with the Babylonian New Year, the Chinese New Year, which occurred on the 1st of February in 2003, the day before Groundhog Day, is correlated to the beginning of spring.
Available options:
(I). yes
(II). no
(I).