China's online literature industry charted record growth in 2024, bolstered by surging domestic demand and cross-border cultural impact, according to a report by the Chinese Academy of Social Sciences. The sector's domestic reading market generated 43.06 billion yuan (approximately $5.96 billion) in annual revenue, marking a 6.8% year-on-year increase.
Intellectual property (IP) adaptations emerged as a powerhouse driver of this growth, with revenue jumping 14.6% to 298.56 billion yuan ($41.31 billion). Analysts attribute this boom to innovative synergies between literary works and short-form dramas, gaming ecosystems, and multi-platform storytelling—trends resonating particularly with younger audiences worldwide.
Industry experts highlight how Chinese web novels like The Legend of Sword and Fairy and Joy of Life have evolved into transmedia franchises, combining traditional cultural motifs with modern narrative techniques. This fusion is attracting international streaming platforms and investors seeking collaborative opportunities.
The report underscores the sector's growing role in soft power diplomacy, citing translations into 20+ languages and a global readership exceeding 150 million. For diaspora communities and cross-cultural enthusiasts, these stories serve as digital bridges connecting modern China's creativity with global audiences.
