1. give up (あきらめてやめること)
Meaning: to quit / to stop doing something
Examples
A – Do you have any New Year’s resolutions?
B – Yes, I do. I am going to give up smoking.
2. ring in the New Year (1月1日をお祝いすること)
Meaning: to celebrate the beginning of the New Year at midnight.
Examples
A – How did you ring in the New Year?
B – I went to Singapore and watched the fireworks display with my family.