State Flag Day is the main state holiday in Mongolia, being celebrated annually on July 10. State Flag Day is celebrated with a central government-sponsored events including a military parade and a flag raising ceremony on Sükhbaatar Square in the capital of Ulaanbaatar.

Sükhbaatar Square is the central square of Mongolia's capital Ulaanbaatar. The square was named for Mongolian's revolutionary hero Damdin Sükhbaatar after his death in 1923. The square's name was changed to Chinggis Square in 2013 in honor of Genghis Khan, considered the founding father of Mongolia, but the original name was restored in 2016. The center of the plaza features an equestrian statue of Damdin Sükhbaatar, while a large colonnade monument dedicated to Genghis Khan, as well as to Ögedei Khan and Kublai Khan, dominates the square's north face directly in front of the Saaral Ordon.