China launches "film consumption year" to boost economic growth

The "China Film Consumption Year" has been officially launched in Beijing, aiming to harness the cultural appeal of cinema to boost consumer spending and support economic growth.

The campaign, initiated by the National Film Administration in collaboration with other departments, will feature a wide range of cinema-related promotional events and discount schemes.

Major partners including the Industrial and Commercial Bank of China, China Construction Bank, China UnionPay, and leading ticketing platforms Maoyan and Taopiaopiao have committed to jointly providing no less than 1 billion yuan (about 138.8 million U.S. dollars) in subsidies.

The funds will be used to offer discounted movie tickets, particularly during peak box office periods such as the summer and holiday seasons

The move comes as China continues to position cultural consumption as a key driver of domestic demand. With 90,968 cinema screens nationwide as of 2024, China boasts the world's largest movie market by screen count. ■