China’s Film Industry Sees Impressive Recovery, Hits $7.7 Billion Box Office

The Chinese film market rapidly recovered last year, led by domestic films.

According to the China Film Bureau, on the 2nd, the box office revenue of Chinese films last year recorded 54.915 billion yuan (approximately $7.7 billion).

This is a sharp increase compared to 2022, which experienced a drastic slump due to the strong “Zero Corona” policy, and it is about 85.4% of the highest-ever profit recorded before the COVID-19 pandemic in 2019.

Chinese media reported that domestic films accounted for 46.05 billion yuan, 83.7% of the total box office revenue.

Notably, all the top 10 box office films were Chinese, thanks to the government’s emphasis on patriotism.

The film Full River Red by master director Zhang Yimou recorded 4.544 billion yuan (approximately $711 million), becoming last year’s highest-grossing film.

The Wandering Earth 2, a film about a Chinese astronaut saving the earth from the brink of human extinction, also led the box office with 4.029 billion yuan (approx. $630 million).

Films dealing with the damage of internet gambling, No More Bets, and the mystery crime film Lost in the Stars also recorded 3.848 billion yuan (approx. $602 million) and 3.523 billion yuan (approx. $551 million), respectively.

China Central TV (CCTV) interpreted through an anchor briefing that “the return of box office revenue to 50 billion yuan shows that the Chinese film market is recovering quickly” and “the fact that domestic films have dominated the top 10 box office means that filmmakers are talented and the film industry is amazing.”

By. Soo Min Hwang