• Deng Chao  plays a ruthless developer in Stephen Chow's latest comedy 'The Mermaid,' which has become China's biggest film ever.

Deng Chao plays a ruthless developer in Stephen Chow's latest comedy 'The Mermaid,' which has become China's biggest film ever. (Photo : YouTube/Toy Soldiers)

"The Mermaid" has become China's biggest film ever, after Steven Chow's latest comedy wiped out all national box office records. Starring debutant Jelly Lin, the movie earned 2.74 billion yuan ($418 million) since it was released two weeks ago on the Chinese Lunar New Year holiday.

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The much hyped Chinese film "Crouching Tiger, Hidden Dragon II: Sword of Destiny" was ranked second at the box office on Wednesday, while Pou-Soi Cheang's "The Monkey King 2" was in the third place. "From Vegas to Macau III" ranked fourth this week at the box office. While "Crouching Tiger," produced by the Weinstein Company, is set for release in the United States on Feb. 26, Friday, the last two films are Chinese-Hong King joint ventures, Arts Beat reported.

Though the release of "The Mermaid" by Sony Friday, Feb. 19 was a somewhat low-profile in North American, it earned a little over $1 million on 35 screens in the opening weekend. The remarkable feat suggests that "The Mermaid" has already surpassed the box office earnings of the 2015 Chinese family film "Monster Hunt," which held the box office record so far earning $381million, reported IB Times.

The stupendous success of the movie has inspired Chinese filmmakers and distributors to believe that the time is appropriate for the Chinese film industry to become more global. Buoyed over the runaway success of "The Mermaid," SAPPRFT film bureau head Zhang Hongsen said that though it is not very easy to promote Chinese movies at present, like in 2003 when China launched the film industry reform. "However, we have faith and know we will make it in the end," the media outlet quoted Hongsen as saying.

"The Mermaid" narrates the story of hardnosed developer Liu Xuan, portrayed by Deng Chao, who is planning illegal constructions on some sacred waters. Sensing trouble, a mermaid played by Jelly Lin, who living in the lagoon conspires to seduce and subsequently kill the developer. However, things go out of kilter after the pair develops feelings for one other. The movie is loaded with laughs and also features a romance element. But, one cannot escape the environmentalist message as well as fundamental subject of the impact of humans on the world in their chase of money and power.

Watch the trailer of "The Mermaid" below: