China's box-office earnings hit milestone 50 billion yuan in 2023

The Chinese film market has experienced a noticeable recovery this year. The annual box-office earnings for Chinese cinemas in 2023 surpassed 50 billion yuan (around $6.85 billion) on November 13, taking 317 days to achieve this milestone, according to preliminary data from China’s National Radio and Television Administration.

Domestic films accounted for 41.7 billion yuan, or 83.4 per cent, of the total. The data revealed that the top ten highest-grossing films in China for the year were all domestic productions.

"Full River Red" and "The Wandering Earth II" both exceeded 4 billion yuan in box-office revenue. Additionally, four other films, namely, "No More Bets," "Lost in the Stars," "Creation of The God: Kingdom of Storms," and "Never Say Never," raked in box-office earnings of over 2 billion yuan.

"Full River Red" is a comedy suspense thriller directed by famous Chinese director Zhang Yimou set after the death of Yue Fei, a patriotic military commander during the Southern Song Dynasty (1127-1279), that plots a historical tale of treachery and political intrigue.

"The Wandering Earth II" tells the story of mankind trying to save Planet Earth and human civilization as the sun rapidly begins to burn out. The movie series is adapted from a novel by Chinese Hugo Award winner and science-fiction writer Liu Cixin.

In addition to dominating the box office, domestic Chinese films in 2023 have also been garnering favorable reviews from audiences. Recent Chinese film audience satisfaction surveys indicate that the Spring Festival releases received a satisfaction rating of 87.1, an increase of 1.8 points compared to the previous year.

Surpassing 50 billion yuan in annual box-office earnings in 2023 is seen as a new milestone in the recovery of the Chinese film market. With the market rapidly warming up and the continuous release of strong domestic productions, the industry has high expectations for this year’s total annual box-office tally.