China's film industry has ushered in the Year of the Rabbit with a record-breaking achievement. On Wednesday, the Spring Festival—also known as Chinese New Year—China's daily box office soared to a new high, generating an impressive 1.805 billion yuan (approximately $249 million) in earnings.
The surge was accompanied by a staggering 35.15 million moviegoers flocking to cinemas nationwide. Both the box office revenue and the number of viewers surpassed previous records set during the 2021 Chinese New Year, according to the China Film Administration (CFA).
The Spring Festival holiday, traditionally one of China's most lucrative seasons for the film industry, runs from January 28 to February 4 this year—extending one day longer than in previous years. This extension has provided an additional opportunity for the industry to capitalize on the festive spirit and increased consumer spending.
Leading the charge are six newly released domestic films that debuted on Wednesday. Spanning genres such as Chinese mythology, wuxia (martial arts and chivalry), comedy, fantasy, animation, and drama, these films cater to a wide array of audience preferences. According to Huajin Securities, the diversity in genres appeals to various audience groups, and many of these films are installments of well-established franchises with strong reputations and loyal fan bases.
In an effort to stimulate the film market, the CFA has encouraged relevant institutions to allocate approximately 600 million yuan in moviegoing consumption subsidies since December of last year. Analysts suggest that this move aims to unlock the full consumption potential of moviegoers, further boosting the industry's recovery and growth.
Looking ahead, Kaiyuan Securities predicts a promising future for the Chinese film industry. The firm forecasts a 6.7% year-on-year increase in total box office takings, reaching 8.54 billion yuan during the 2025 Spring Festival holiday. This optimistic outlook underscores the sustained enthusiasm for cinema among Chinese audiences and the industry's resilience amid global challenges.
The record-breaking figures not only reflect the public's eagerness to return to cinemas but also highlight China's flourishing cultural sector. As the nation continues to celebrate the Spring Festival, the film industry's success contributes to the festive atmosphere and signals robust economic momentum moving forward.
Reference(s):
China sees new daily box office revenue record during Spring Festival
cgtn.com
