Revenue of Cultural Enterprises in China up 8.2 Percent in 2023

According to data from the National Bureau of Statistics (NBS) based on a survey of 73,000 enterprises above designated size nationwide in the cultural and related sector, cultural enterprises earned RMB 12.95 trillion in revenue in 2023, an increase of 8.2 percent year on year.

The cultural service industry played an increasingly greater role in supporting economic growth, and the entertainment and leisure sectors rapidly recovered, said Zhang Peng, a senior statistician at the NBS.

With the implementation of policies to boost domestic demand and consumption, the potential of people’s demand for consumption of cultural goods and services was continuously unleashed, promoting the recovery and development of the entertainment and leisure sectors. In 2023, the cultural, entertainment, and leisure service sectors achieved revenue of RMB 175.8 billion, a surge of 63.2 percent compared with 2022. The growth reversed a downturn trend in 2022 when the revenue figure was down 14.7 percent from 2021. The earnings in 2023 represented an average annual growth of 18.0 percent over the past two years.

Besides, in 2023, cultural businesses in emerging sectors contributed 70.9 percent to the total growth of the cultural and related sectors. Leading the growth were wearable intelligent devices manufacturing, digital publishing, gaming, digital publishing software, Internet searching services, making of intelligent unmanned aerial vehicles for entertainment purposes and other Internet information services.