China's Science Fiction Economy Achieves Record Revenues Amid Tech Focus

China's science fiction industry recorded significant revenue growth, reaching a total of USD 18.2 billion last year. This figure, up 15.7 per cent from the previous year, represents a new high for the sector, according to a report cited by the South China Morning Post. Public interest in science fiction content surged alongside this financial expansion.

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Overall gross revenues for the industry amounted to 126.1 billion yuan. Science fiction related online search traffic increased substantially, rising by 203.3 per cent year on year across Chinese platforms. The report also indicated a continued expansion in the global reach of Chinese intellectual property.

Video games maintained their position as the core of China's science fiction market. This sector alone generated 77.91 billion yuan in revenue, accounting for more than 60 per cent of the total industry income reported. And Chinese game titles performed strongly in overseas markets.

Wu Yan, a science fiction writer and professor at the Southern University of Science and Technology, contributed to previous editions of this annual report. He observed that science fiction games retain the largest market share. Younger audiences demonstrate a particular preference for immersive and participatory entertainment forms.

Other media formats currently cannot match video games in terms of either public engagement or overall market scale, Professor Wu stated. The rising public enthusiasm for science fiction coincides with China's increased national focus on developing its technological capabilities. But this governmental push for tech self-reliance forms a central part of Beijing's latest five-year plan.

The science fiction derivatives sector also experienced notable financial growth. Revenues in this area rose to 7.07 billion yuan, marking a 179.4 per cent year on year increase from the preceding period. Original intellectual property served as the primary market driver for this expansion.

New product formats, including designer toys integrated with artificial intelligence, injected fresh market momentum into the derivatives segment. The industry gained mainstream recognition during the last decade. So this period notably saw the global success of author Liu Cixin's *The Three-Body Problem*.

Liu Cixin's acclaimed novel sold millions of copies internationally. It was later adapted into a high budget series for a major global streaming service. Another novella by Liu, *The Wandering Earth*, also led to a significant blockbuster film production.

This film grossed 4.6 billion yuan domestically upon its initial release. A subsequent film, a direct sequel, also garnered impressive box office returns, earning 4.2 billion yuan from the domestic market. And the industry has continued to build on these successes with a wider array of content.

A broader selection of science fiction titles has found audiences in recent times, beyond the established blockbusters. Science fiction film and television productions collectively generated 8.16 billion yuan in total revenue last year. This represented a 21.6 per cent increase compared to the immediately preceding year.

A significant development observed last year involved the increased application of artificial intelligence across the creative sector. This technology was particularly used in the production of short and medium length video content. But the science fiction literature segment also saw revenues reach 5.19 billion yuan.

Professor Wu further commented on the appeal of offline experience projects. Science fiction theme parks have proven particularly attractive to consumers. This popularity is attributed to the direct, first hand experiences they offer visitors.

This consumer demand for immersive experiences was explicitly reflected in the science fiction tourism sector's performance. This sector experienced a 13.8 per cent year on year growth, with total revenues reaching 27.77 billion yuan. And theme parks remained a key contributor to this revenue, with growth observed in domestically developed original attractions.

A new category, science fiction technical equipment, was included for the first time in this year's report. This segment recorded revenues of 24.74 billion yuan. The overall findings were presented during the China Science Fiction Convention.

• The Chinese science fiction industry generated USD 18.2 billion in revenue last year, marking a 15.7 per cent increase.

• Video games comprised over 60 per cent of total science fiction industry revenues.

• Online search traffic for science fiction content increased by 203.3 per cent year on year.

• Derivatives and tourism sectors also recorded substantial revenue growth.

• Artificial intelligence is increasingly used in the creation of short and medium length video content.

Source: SCMP