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Chinese New Year films signal broader industry upgrade

China

China

China

Chinese New Year films signal broader industry upgrade

2026-02-19 21:20 Last Updated At:21:57

The Chinese New Year holiday kicks off the country's most critical box office season. This year, beyond the battle for ticket sales, the lineup reflects a broader transformation underway in the country's film industry -- from genre innovation to IP-driven growth.

Among the most anticipated releases is the wuxia epic "Blades of the Guardians". The film represents an industrial upgrade of traditional martial arts storytelling, blending large-scale production with immersive physical performance.

Lead actor Ci Sha says the film's demanding action sequences helped him forge a deeper connection to his artistry.

"The film is set in the passionate world of Wuxia cinema. That intensity required a deep connection, especially with my horse. I built a real relationship, treating him as an equal partner. To me, horses symbolize freedom and loyalty. And they inspire my acting philosophy: you must genuinely become the character, not just technically perform it," Ci said.

While wuxia highlights the revival of classic genres, science fiction has emerged as another pillar of this year's lineup.

The futuristic movie "Per Aspera Ad Astra", known in Chinese as Star River Into Dreams, explores a near-future world shaped by advanced technology and virtual systems. Industry analysts say such productions demonstrate how Chinese cinema is expanding into high-concept storytelling supported by digital innovation.

"Fueled by AI and the influence of animation, cinema is no longer bound to recreating the physical world. It's a profound shift that will overflow the screen, building entirely new universes and fundamentally reshaping our cultural landscape. The path for Chinese cinema to global success is two-fold: first, we must offer a new 'flavor' -- our unique cultural stories -- but beneath that, we must provide universal 'nutrition' -- the shared human values and emotions that connect us all," said Zuo Heng, a researcher at China Film Archive.

Beyond individual releases, the industry is also exploring how films can generate long-term economic value.

Last summer's animated hit "Nobody" offered an early example of this strategy. The film's success extended far beyond the box office, fueling merchandise sales and immersive experiences.

"We are actively implementing the 'Film Plus' strategy, which understands that the essence of the film economy lies beyond the screen itself, in broader public consumption. Our film 'Nobody' is proof of this concept. It earned over 1.7 billion yuan at the box office, yet we generated nearly 2.5 billion in revenue from over 800 licensed products. This is about deeply linking our films with physical spaces -- film museums, theme parks, and retail -- to create fully immersive experiences. It fundamentally redefines entertainment: shifting the public from simply watching our films to truly stepping into their worlds," said Dai Yun, general manager of Shanghai Film Co., Ltd..

Chinese New Year films signal broader industry upgrade

Chinese New Year films signal broader industry upgrade

U.S. Federal Reserve officials largely agreed to hold interest rates steady at their late January meeting, but the minutes released Wednesday also reveal deep divisions over what the central bank should do next as inflation remains a major concern.

The summary of the Federal Open Market Committee's latest gathering showed that "almost all" participants agreed to maintain the benchmark interest rate at its current range of 3.5 to 3.75 percent. However, two members voted against that decision and preferred to lower the target range by a quarter percentage point.

The real divide emerged when policymakers turned their attention to the future.

Several members believed additional rate cuts would likely be appropriate if inflation continues to decline in line with their expectations, according to the minutes. But some argued that holding rates steady for an extended period would be the more prudent course as the committee carefully assesses incoming economic data.

A few participants even supported a two-sided description of the Committee's future interest rate decisions, allowing for the possibility of future rate hikes if inflation remains above target.

Most participants cautioned that achieving the central bank's two percent inflation target could be "slower and more uneven" than previously anticipated.

The Committee's next meeting is scheduled for March 17-18.

US Fed minutes reveal split on next move as inflation concerns persist

US Fed minutes reveal split on next move as inflation concerns persist

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