An official shared that for the year 2014, China's animation industry generated around $16 billion worth of revenues, a remarkable feat for the booming domestic movie market segment.
According to Liu Hongge, the Ministry of Culture's center for international cultural exchange deputy director, the figure was a 15-percent increase from the previous year's statistic.
Liu spoke during the opening ceremony of the 12th China International Animation Art Week held in Changzhou City in east China's Jiangsu Province.
The deputy director remarked that the country "is keen to boost the animation sector with efforts to produce more high-quality projects" and titles that are at par with foreign flicks.
For the past months, a number of locally made animation titles have landed on Chinese theaters. These include the live-action animation "Monster Hunt" that has gathered over 2.4 billion yuan as of mid-September.
The film, which debuted on July 16, broke the new highest opening day and single day gross for a Chinese film record before it was snatched by the recently shown comedy smash, "Lost in Hong Kong."
Earlier, reports have also surfaced that the boom in the Chinese animation business is already considered a threat to Hollywood titles. A proof of this was the box-office achievement of the 3D animated film, "The Monkey King: Hero Is Back."
The homegrown flick was able to surpass the records set by Hollywood animations that were shown in Chinese theaters, including the popular "Kung Fu Panda 2."
Liu further noted that the Chinese government will continue to support the sector by giving backing to innovative animation ventures and world-class animators.
This year, the China International Animation Art Week was attended by animation firms from around 40 countries and regions.