Zhang Yimou's new film The Great Wall stars Matt Damon. (Photo provided to China Daily)
Growth of China's film market appears to have slowed in 2016, signaling more rational and sustainable development, according to industry professionals.
As of December 21, box office revenues for 2016 totaled almost 44 billion yuan (6.33 billion U.S. dollars), meaning the year's earnings are on track to achieve a modest increase over last year's total.
It took China eight years to increase box office revenues from less than 1 billion yuan in 2002 to 10 billion yuan in 2010. The continuously rising annual box office revenues reached 44.07 billion yuan in 2015, an increase of 48.7 percent from 2014.
Though ticket sales show signs of slowing, the market itself has been expanding. Latest figures show the number of cinema screens in China reached 40,917 on Tuesday, surpassing the United States to become first in the world.
It took China about a year to increase its screens from 30,000 to 40,000. Over 2016, the number of screens grew by an impressive 26 per day.
China became the world's second-largest film market in 2012. Earlier foreign assessment predicted China would surpass the United States as the world's largest market in 2017.
ADJU.S.TMENT OR INFLECTION POINT?
Zhang Hongsen, head of the film bureau at the State Administration of Press, Publication, Radio, Film and Television, said that one of the reasons behind the slowdown is that quality still cannot meet the changing expectations of viewers.
China's films need to promote the spirit of craftsmanship, Zhang said.
Rao Shuguang, secretary-general of the China Film Association, said that rather than an inflection point, 2016 marked an adjustment in China's box office development.
Statistics suggest that in 2016, nearly 1.17 billion tickets were sold between January and October in China, a year-on-year increase of 11.17 percent. China's film market, the world's second-largest, is still undergoing changes, and there is unrealized potential for box office sales.
According to Ren Zhonglun, president of Shanghai Film Group, box office growth previously relied on China's large population, but that will change based on movie release schedules, quality and box office subsidies.
In the long term, China's march toward a powerful film market has not changed, Ren said, noting the "needs and desires of Chinese people for high-quality films."
