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China's box office revenues top 15.4 bln yuan so far this year

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China

China's box office revenues top 15.4 bln yuan so far this year

2026-05-28 23:34 Last Updated At:05-29 04:57

China's box office revenue so far in 2026 has surpassed 15.4 billion yuan (about 2.27 billion U.S. dollars), according to the latest data released Thursday by online platforms, with the low-budget family film "Dear You" emerging as a box office hit.

The Chaoshan-dialect film has continued to gain both critical praise and box office success since its release, topping the daily box office chart for 18 consecutive days.

The film has now entered the top four in the 2026 annual box office rankings with over 1.2 billion yuan (about 177 million U.S. dollars) in receipts.

The story draws on the history of "qiaopi," the letters and remittances sent home by earlier generations of overseas Chinese. The historical significance of these letters gained international attention when UNESCO added the "qiaopi" archives to its Memory of the World Register in 2013.

The film follows two women whose lives become quietly intertwined through 18 years of correspondence and care after one of their husbands dies while working overseas. The film explores themes of women's solidarity, emotional responsibility, and attachment to family, homeland and cultural roots.

Directed by Lan Hongchun, a native of the Chaoshan region in south China's Guangdong Province, and reportedly produced on a budget of just over 10 million yuan, the film has been widely praised for its emotional authenticity, grounded storytelling and unusually convincing performances.

The film currently holds a 9.1-out-of-10 rating on Chinese review platform Douban -- among the highest-rated domestic releases of the past decade.

The film is set to be released overseas in the coming days and has already secured orders from cinema chains in several countries.

With 2026 designated as the "film economy promotion year," the total output value of China's entire film industry chain has exceeded 240 billion yuan (about 35.4 billion U.S. dollars) so far this year.

China's box office revenues top 15.4 bln yuan so far this year

China's box office revenues top 15.4 bln yuan so far this year

U.S. economic growth in the first quarter was significantly slower than initially estimated, while consumer inflation remained elevated in April, official data showed Thursday.

GDP expanded at an annual rate of just 1.6 percent in the first quarter, according to a revised reading from the U.S. Department of Commerce's Bureau of Economic Analysis (BEA). The figure represents a sharp downgrade from the initial estimate of 2.0 percent, missing market consensus expectations that the earlier estimate would hold.

Meanwhile, inflation continued to hit consumer wallets. The personal consumption expenditures price index, which serves as the Federal Reserve's preferred inflation gauge, increased by a seasonally adjusted 0.4 percent in April month on month. This puts the 12-month inflation rate at 3.8 percent, the department reported.

When excluding volatile food and energy costs, the core PCE price index rose 0.2 percent for the month and 3.3 percent annually. The monthly figure came in slightly below economists' estimate of 0.3 percent.

Despite the softer GDP reading and persistent inflation, U.S. consumer spending increased by 0.5 percent in April, meeting market forecasts. However, personal income remained flat, missing estimates for a 0.4 percent rise and signaling continued strain on household finances.

The fresh pricing data is expected to keep the Fed on the sidelines until the current wave of inflation subsides. Traders currently expect the central bank to remain on hold until at least late 2026, with markets pricing in the likelihood that the Fed's next policy move will be an interest rate increase, possibly in early 2027.

U.S. first-quarter GDP growth revised down to 1.6 pct annual rate

U.S. first-quarter GDP growth revised down to 1.6 pct annual rate

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