慶祝 (慶祝) (king3 zuk1) - This is the most common and general way to say "celebrate." It literally means "to celebrate" and is used for a wide range of celebrations, such as birthdays, holidays, and anniversaries.
歡慶 (歡慶) (fun1 hing3) - This is another common way to say "celebrate," and it has a similar meaning to 慶祝. It literally means "to rejoice and celebrate."
舉行 (舉行) (geoi2 hang4) - This literally means "to hold" or "to conduct," and it is often used to refer to formal celebrations, such as a wedding or a graduation ceremony.
慶賀 (慶賀) (king3 ho6) - This is a more formal way to say "celebrate," and it is often used to express congratulations or good wishes.
歡度 (歡度) (fun1 dou6) - This means "to enjoy" or "to spend happily," and it is often used to describe how someone is celebrating.
The best way to choose the right word is to consider the specific context of your conversation.