Let's GoTo Penang

Starting at the bottom by creating the Universe, he helped YUAN-SHI-TIAN-ZONG bring order to the cosmos. Working his way to the top, he spent a billion aeons contemplating his Holy Navel before finally achieving a state of the most amazingly perfect Godliness.

Having achieved Illumination and Omnipotence, he went on to become supreme Heavenly Ruler and Emperor of the Universe. The human imperial ruler of China was merely a manifestation and vassal of the JADE-EMPEROR. Earthly Emperors were given leave to rule by the MANDATE-OF-HEAVEN, provided they checked in every so often via a Jade PI-DISC.

The JADE-EMPEROR's word is law and he rules all Heaven and Earth with a vast company of civil servants and bureaucrats at his beck and call. The CHENG-HUANG and TU-DI look after Earthly paperwork, and every year the ZAO-JUN file a report on your conduct for him to assess.
 

If that's not impressive enough, the JADE-EMPEROR found further fame when DAOism and Buddhism came into play and engulfed him in the utmost holiness. Not to mention the most amazingly complicated symbolism.

His list of official titles expanded in all directions. 'Most Venerable Jade Emperor Of The Heavenly Golden Palace'... 'Supremely High Emperor Of The Heavens, Holder Of Talismans, Container Of Perfection and Embodiment Of Dao'... and finally, 'Most Venerable And Highest Jade Emperor Of All-Embracing Sublime Spontaneous Existence Of The Heavenly Golden Palace'. We think that just about covers everything.

Anyway there’re 2 version of folklore about this celebration.

            The widely known version is about the sugarcane farm. During the voyage era in the 16^th century, there were pirates on the east coast of China. On a Chinese New Year in during that era, the pirates were raiding in the east coast of Hokkien. These pirates were invading from all direction, killing everyone on their sight. Being hopeless and just about to give up, there was sugarcane farm suddenly appeared in front of the residents. They were all safe by hiding inside the sugarcane farm. That day was the 9^th of the first lunar month. The survivors believed it was a help from the Jade Emperor. In order to present their faithfulness to the Jade Emperor, the Hokkien residents started celebrating on the 9^th of the first lunar month with sugarcane.

   Another less known version is about General Meng. Meng had a special ability the he  was able to speak and understand the local dialect by drinking the water in that province. During that time, he was assigned to eliminate all outside invaders. He relied on his special ability to determine if the people were local or outsiders.
    During his visit on Fu Jian, his servants mistakenly brought him the water from other province; therefore, he couldn’t understand the dialect from the Fu Jian residents.  That made him believe that the Fu Jian’s residents are outsiders. Based on this he sent an order to kill all the residents. The carnage had remained for a few days until the 9th of the first lunar month. He drank the local well water and suddenly mastered the Fu Jian dialect. He realized that he had killed the wrong people and stopped the carnage.
Fu Jain residents rejoiced on that day and believed it was a miracle from the Jade Emperor.
    I believe the second version is more on mythology and it doesn’t involved sugarcane.