I live in China and have a 2-week-old baby daughter. Today is Chinese New Year and the noise from the fireworks tonight will be deafening. What is the best way to protect her from the noise?
When (if) she wakes up to the noise, be there, be calm (or joyful if you like), demonstrating her that there is nothing to be afraid of. Take her into your arms if she is frightened. Admire the fireworks together if she is interested (and if it is visible from your window).
Here in Hungary we also have fireworks at new year, although it is probably modest compared to the Chinese version. Our daughters so far had no trouble with it - sometimes they didn't even wake up, and when they did, they excitedly enjoyed the sight.
Don't know if there are any earplugs for infants, but she might get more irritated by such a thing than the noise itself. If your ears can take it, hers will too. Even if it's very loud, I believe experiencing it once a year won't make any long term damage. If Chinese infants have survived it for centuries, yours will too :-)