China Leads Global Box Office by 2026

According to CGTN, China’s cinema market led the world in box office revenue by February 23, 2026, reaching 8.3 billion yuan (including presales). This success was primarily driven by the Spring Festival holiday period, which ran from February 15 to 23 and generated 5.75 billion yuan in ticket sales. This performance highlights the growing strength and potential of the Chinese film industry. During the nine-day holiday, numerous blockbusters across various genres premiered in cinemas, providing entertainment for family gatherings. Topping the sales ranking was Pegasus 3, the third film in Han Han’s comedy series about rally racing, starring Shen Teng. Pegasus 3 earned approximately 578.7 million yuan globally, according to Variety. After only ten days in Chinese theaters, Pegasus 3 had grossed over 3.4 billion yuan (497 million USD), becoming the highest-grossing movie of 2026 to date. For context, Wuthering Heights earned over 214 million yuan. A photo from the London debut was released by chinadaily.com.cn. The film is expected to earn 400 million in China within its first six days during the New Year holiday. Early predictions suggest that if Pegasus 3 maintains its pace, it could reach 2.1 billion worldwide.

Pegasus 3 Dominates Chinese New Year Season, Challenging Global Box Office Records in 2026

The first two films in the Pegasus series, released during the Spring Festivals of 2019 and 2024, collectively grossed 5 billion yuan. Pegasus 3 continued its success with RMB 168.9 million (23.8 million USD) during the weekend of March 6-8, marking its third full weekend earnings. Other notable films during the period included Zhang Yimou’s spy thriller Scare Out, which secured second place with 701 million yuan, and Blades of the Guardians: Wind Rises in the Desert, an action martial arts film that earned 577 million yuan. Experts are closely watching Pegasus 3 to see if it can match the box office success of Ne Zha 2 from the 2025 New Year holiday. While several English-language films slated for release after April 2026 could potentially become billion-dollar hits, Pegasus 3’s strong opening during China’s lucrative New Year season positions it as an early frontrunner, illustrating China’s increasing influence in the international film market.