China's domestic film industry ends 2023 on a stable recovery note

Having the year-on-year increase surpassing a stunning 83 percent, China has witnessed the domestic film industry ending on a robust and stable recovery note in 2023.

According to the China Film Administration, the overall box office of 2023 has reached 54.915 billion yuan ($7.73 billion), far exceeding the 29.949 billion yuan raked in for 2022. Throughout the last year, 1.299 billion tickets were sold on more than 86,300 silver screens in urban theaters across the country.

All ten highest-grossing blockbusters were produced by Chinese companies, with the Spring Festival hit Full River Red – historical suspense named after a household poem penned by the 12th-century patriotic general Yue Fei – soaring as the yearly champion.

The Wandering Earth II, a sci-fi sequel exploring digital life and interstellar journey, has secured the second position, followed by No More Bets, a cyber-scam themed film that gained popularity during the summer. The crime suspense Lost in the Stars and the fantasy epic Creation of the Gods I: Kingdom of Storms have respectively claimed the fourth and fifth slots.

A total of 971 films were produced in 2023, with 792 titles being dramas. Besides, a total of 2,312 silver screens were newly installed in urban cinemas, according to the administration.

With a total of 46.005 billion yuan, or 83.77 percent of the overall ticket revenues in 2023, grossed from domestic films, China's film market has shown a continuous trend in recent years, indicating that local audiences have a greater preference for Chinese films due to familiarity with the tales' backgrounds and cultural core, according to most industry insiders contacted by China Daily.

Rao Shuguang, president of the China Film Critics Association, said that most Chinese films, despite their diversified genres and themes, focusing on heart-warming narratives aimed at inspiring audiences to pursue a positive and progressive life.

Yin Hong, vice-chairman of the China Film Association, said that Chinese cinema has demonstrated a vibrant revival in the post-pandemic era within the global film industry landscape, with the country's yearly box office accounting for around 28 percent of the overall revenue of the global market.