Chinese film market gains growing influence

Editor's note: Jin Lina is an associate researcher at the Film Industry Research Department of China Film Art Research Center. The article reflects the author's opinions and not necessarily the views of CGTN.

In recent years, China's film market has swiftly rebounded and flourished. Last year, China's box office raked in 54.9 billion yuan ($7.5 billion), up 83 percent from 2022, far exceeding the global growth rate of 30.5 percent. In the global film market, China ranked second with a box office of $7.5 billion, accounting for 23 percent of the global total. Eight Chinese films, including "Full River Red," secured spots in the top 30 highest-grossing films globally. This year's Spring Festival film season continued the fervor, concluding with a record-breaking box office of 8.01 billion yuan and setting a new benchmark for the holiday period. China has played a paramount role in the recovery of the global film industry, with its influence continually rising.

In terms of overseas distribution, Chinese films have made quite some breakthroughs. Earlier this year, Sony Pictures acquired the global distribution rights for "YOLO," marking the first time Sony has purchased the global rights for a Chinese mainland film it did not co-produce. It is also the first Chinese film Sony has globally distributed in nine years. In February, a two-day advance screening was held for "Creation of the Gods I: Kingdom of Storms" in France, with over 400 showings and more than 60 percent of the audience being French. Its box office performance far exceeded expectations. On July 10, "Creation of the Gods" will be released across France, Belgium, and Luxembourg, and will be screened in over 400 theaters in France alone. This also marks the largest release of a Chinese film in France to date. 

Mid-March saw the release of the animation "Deep Sea" in over 400 French theaters. With over ten thousand showings, "Deep Sea" broke the record for the highest number of screenings of a Chinese animated film in France. In addition, "No More Bets" broke multiple records in Malaysia and Singapore after its release, setting new box office highs for Chinese films in those regions. Films like "Hidden Blade," and "Born to Fly" have also been well-received in countries like Thailand. High-quality, highly-rated Chinese films are becoming a cinematic window to tell China's stories.

While "going global," the Chinese film market is also intensifying efforts to "bring in" foreign films. More than 30 imported films have been screened in the first half of this year, covering various genres such as sci-fi, action, animation, and drama. These films come from even more diverse countries. In particular, outstanding films from Belt and Road Initiative partner countries like Russia, Malaysia, and Thailand have entered the Chinese mainland market, allowing audiences to feel the charm of different cultures. 

Over the past years, the Chinese mainland has become the largest overseas market for many major imported films. Imported films like "The Boy and the Heron" and "Digimon Adventure 02: The Beginning" performed better in the Chinese mainland market than in Japan and North American markets. At the Cannes Film Festival, Mao Yu, executive deputy director general of China Film Administration, pledged efforts to introduce more foreign films to the Chinese market. In the second half of the year, the Chinese film market will see a wider variety of global films from a more diverse range of countries.

Moreover, sino-foreign film cooperation has yielded fruitful results. To date, China has signed agreements on film co-productions with 22 countries, including the UK, France, Russia, New Zealand, and Japan. This year, China also reached agreements with France, Serbia, and Hungary to expand cooperation on film and television. Sino-foreign co-production has always been an effective means of international exchange for Chinese films, which enhances Chinese films' global influence. In 2023, 77 films were filed for Sino-foreign co-production, a tenfold increase year on year, almost back to pre-pandemic levels. China has collaborated with broader regions and has further enhanced international cooperation. Notably, the action blockbuster "Meg 2: The Trench" grossed over $398 million worldwide, serving as a new concrete example of the "China-led + international resources" model.

China is now transitioning from being a big film country to a film superpower. The two-way interaction between "going global" and "bringing in" not only fosters more commercial opportunities and economic benefits for the Chinese film industry but also presents a real, multidimensional, and comprehensive China through films. This amplifies China's presence in the global film market and facilitates deeper exchanges and mutual learning among civilizations.