China's Spring Festival box office hits 400-mln-yuan mark

China's box office revenue for new films scheduled for the 2026 Spring Festival period, including presales, had surpassed 400 million yuan (about 55.54 million U.S. dollars) as of Sunday, according to data from ticketing platform Maoyan.

The Spring Festival holiday, running for nine days from Feb. 15 this year, is one of the key movie seasons in the world's second-largest film market.

Leading the early buzz ahead of its Spring Festival opening is "Pegasus 3," the third installment in director Han Han's racing-comedy franchise starring Shen Teng, one of China's most bankable comedic actors. On the Maoyan online ticketing platform, "Pegasus 3" currently ranks first in "want-to-see" interest selections by Spring Festival moviegoers.

"Scare Out," a contemporary espionage thriller directed by Zhang Yimou, has also drawn strong early attention. Developed with the guidance from the Ministry of State Security, the film centers on a leak of classified military aviation data and follows a counterintelligence team as it navigates shifting loyalty and hidden betrayals.

Another high-profile entry, "Blades of the Guardians," adapted from a cult-favorite comic, is directed by legendary action choreographer Yuen Woo-ping and features a multigenerational lineup of martial arts stars. It is a rare, large-scale "wuxia" (martial chivalry) production at a time when the genre, which features legends of ancient Chinese warriors, has become less common in Chinese cinema.

Industry observers attribute the strong performance to a combination of policy support and innovative consumption models introduced this year.

Earlier this month, the National Film Administration, together with other government departments, launched the "2026 Film Economy Promotion Year," pledging to distribute no less than 1.2 billion yuan in movie-going subsidies throughout the year to stimulate cultural consumption.

Financial institutions have also joined the effort. China UnionPay, in collaboration with commercial banks and cinema chains, rolled out stacked discount coupons and promotional payment offers, making movie tickets more affordable and transactions more convenient for audiences.

This year's Spring Festival season has also seen expanded "film plus" consumption pilots in 16 cities nationwide, integrating cinema with tourism, dining and retail.

In Qingdao City of east China's Shandong Province, more than 700 businesses including hotels, restaurants and museums, have joined an upgraded "ticket stub economy" alliance, offering discounts to moviegoers.

Meanwhile, Changsha, the capital city of central China's Hunan Province, launched a "stroll the market with films" campaign, encouraging audiences to explore local food specialties such as stinky tofu, sugar oil rice cakes and cured duck after watching movies.

Film-related merchandise has also gained popularity, including co-branded products, intangible cultural heritage-inspired handicrafts and themed blind boxes.

China's film industry is increasingly evolving beyond a single screening experience. A movie ticket is no longer just the admission to a film, but a cultural link that connects emotions and stimulates broader consumption.

China's Spring Festival box office hits 400-mln-yuan mark

Chinese Premier Li Qiang on Thursday presided over a State Council executive meeting that studied work on building a unified national market and reviewed and approved a plan for the development of a modern emergency response system during the 15th Five-Year Plan period (2026-2030).

Noting that building a unified national market is essential to advancing high-quality development, the meeting called for deepening institutional frameworks in areas such as property rights protection, market access, fair competition, social credit and market exit mechanisms.

The meeting also urged efforts to advance high-standard connectivity of market infrastructure to facilitate smooth economic circulation and effectively reduce logistics costs across society.

Emergency management is critical to protecting people's lives and property, the meeting said. It called for accelerating the development of a modern emergency response system, deepening reform and innovation in emergency management, and improving coordinated response mechanisms.

Efforts should be made to strengthen risk prevention at the source, enhance monitoring, forecasting and early warning, and accelerate a shift in governance toward proactive prevention, according to the meeting.

A draft revision of the Law on the People's Bank of China was also discussed and approved in principle at the meeting, which decided to submit the draft to the Standing Committee of the National People's Congress for deliberation.

Chinese premier chairs State Council executive meeting