• As homegrown films continue to soar, the Chinese film market gains increasing interest from foreign film studios and outfits.

As homegrown films continue to soar, the Chinese film market gains increasing interest from foreign film studios and outfits. (Photo : www.chinesefilms.cn)

"Monster Hunt" breaks another Chinese box-office record as the fastest film to reach the 1 billion yuan ($169 million) mark after only eight days.

It is also officially the highest grossing Chinese film in the Chinese box office, taking in $221.41 million from its run so far. This record was previously held by 2012's "Lost in Thailand."

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The adventure-fantasy film directed by Raman Hui, best known for co-directing "Shrek the Third," has also broken several other Chinese box-office records, namely highest grossing single day, single day for IMAX, opening day and opening weekend.

"Monster Hunt" has also surpassed "Avatar" and "Jurassic World," making it the fourth highest grossing film in the Chinese box office of all time. It has only been surpassed by Hollywood releases "Avengers: Age of Ultron," "Transformers: Age of Extinction" and the top film in the Chinese box office, "Furious 7."

It is expected to climb to third place, surpassing "Avengers: Age of Ultron" sometime next week.

"Monster Hunt" tells the story of Huba, a baby monster that resembles a radish, who is the child of a human man (who gave birth to it) and a monster queen. In a world where monsters and humans co-exist, Huba must stop an all-out monster civil war.

Part of the appeal of "Monster Hunt" has been attributed to the character of Huba, whom audiences have received well due to his cute nature.

The film's incredible performance has also been attributed to the unofficial blackout period, wherein the Chinese government has kept Chinese box offices free of foreign films, allowing Chinese films to perform better. Other films that have benefitted from this period include "Pancake Man," "Monkey King: Hero Is Back," "Only You" and "Seer Movie 5: Rise of Thunder."

The success of "Monster Hunt" in China, the world's second biggest movie market, makes it a contender for overseas release, although no official announcements have been made yet.