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China is set to surpass U.S. as world's largest movie market in 2020

China is Set to Surpass the U.S. as World’s Largest Movie Market in 2020

BEIJING – According to China movie Data Information Network Chinese Film industry saw an upturn as the total domestic box office surpassed 3.95 billion yuan ($ 585 million) from October 1 to 8.
Last weekend, the Chinese box office hit $ 68 million, again far surpassing sales in North America, where theatres earned less than $9.5 million, according to the Variety report.
The patriotic film “My People, My Homeland” tops the box office, with sales of 2.15 billion yuan ($318.6 million) as of October 11, the first Sunday after the holidays, and beat the box office since October 3. It overtook Hollywood’s “Sonic the Hedgehog” , which “became the fourth highest-grossing film of the year in the world.
The film shows how well the Chinese market has recovered following the coronavirus pandemic and the rapid development of domestic film productions.
The animated film “Jiang Ziya: Legend of Deification” was the second highest-grossing film of the past week, with 1.45 billion yuan ($21.5 million) since its release. It also broke the first-day box office record for a Chinese animated film, setting a new record for the industry.
In third place, the Chinese sports drama “Leap”, which focuses on the Chinese national women’s volleyball team and with leading actress Gong Li.
On Sunday, “Leap” grossed 639 million yuan (94.7 million), according to data from Maoyan, a movie ticketing and data platform.
Many highly anticipated films will be released in theatres in the coming weeks. Screened at the Shanghai and the Beijing International Film Festival this year, the biographical movie “Like the Dyer’s Hand” will be officially released on October 16.
Adapted from the acclaimed novel of the same name, “The Story of Xi Bao” will also be released on Friday.
As moviegoers return to the cinema and more blockbusters launch, the Chinese box office is poised to surpass the United States as the world’s largest film market in 2020.
(Sahar News Monitoring Desk)

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