The main event of the 28th Golden Rooster and Hundred Flowers Film Festival is held in Xiamen, Fujian province on Nov 20. [Photo by Wen Jie/fjsen.com]

The main event of the 28th Golden Rooster and Hundred Flowers Film Festival was held in Xiamen, Fujian province on Nov 20. It focused on the integrated development of the film industry and financial innovation.

"The Chinese box office has maintained an average annual growth rate of over 30 percent over the past 15 years, transforming it into the world's second-largest film market today," said La Peikang, head of China Film Group.

"Since 2016, more realistic movies have been gradually becoming more popular among young audiences and are receiving positive feedback from the market. This new trend has proved to be a reliable source of revenue for the film and television industry, and has brought in a wave of new investment," La added.

"In the new era, film and culture need to take on the responsibility of connecting people from around the world. Filmmakers should be more creative and open-minded to create films with timeless appeal and ensure a bright future for Chinese cinema," said Xia Chao, vice-president of the China Federation of Literary and Art Circles.

A round-table forum to discuss the sustainable development of China's film industry was held as part of the event. Industry insiders said that Chinese cinema is currently experiencing a golden era, and now is the time to switch from high-speed to high-quality development.