Market Chatter: China Sets Record High Lunar New Year Box Office

MT Newswires Live
Feb 03

China's box office revenue climbed to a record 5.74 billion yuan during the Lunar New Year holiday, on the back of sequels to popular films and government stimulus efforts, Reuters reported, citing data from box office tracker Beacon.

The four-day total starting Jan. 29 exceeded the previous 2021 high of 5.73 billion yuan, according to the report.

Local governments in Beijing, Jiangsu, and other regions issued cinema vouchers to spur spending amid sluggish economic growth, Reuters wrote. Theaters in smaller towns reported sell-out screenings, with one in Hunan even offering standing-room tickets.

The fantasy sequel to Nezha led with over 2.3 billion yuan in sales, followed by the comedy-mystery Detective Chinatown 1900 at 1.54 billion yuan, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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