BEIJING -- China's animation industry reported record-high box office revenue of 320 million yuan ($50.6 million) last year, according to a report released Tuesday.

According to The Report on the Development of China's Animation Industry, a total of 24 films and 435 TV series with a total running time of 261,224 minutes were made in 2011, marking a year-on-year increase of 18.5 percent.

However, the report, which was released by the Social Science Academic Press, noted that the quality and production value of these products remain far below those of similar products made in developed countries.

The report urged more policy support as well as the industry's own efforts to overcome various development obstacles in order to achieve a boost in quality in the upcoming years.