The box office gross sales in China have reached a new high. The number rose 61 percent in 2010 to almost US$1.5 billion.

The State Administration of Radio, Film and Television says China made 500 films in 2010, ranking third behind Bollywood and Hollywood in terms of annual film output.

Although much of the gain in the box office ticket sales came from Hollywood imports such as "Avatar" - which grossed more than $200 million in China alone - many Chinese films also had been commercial and critical successes. For example, Feng Xiaogang's "Aftershock" and Jiang Wen's "Let the Bullets Fly".

"Aftershock" became China's highest-grossing homegrown film of all time, raking in more than 660 million yuan ($100 million).

Meanwhile, "Let the Bullets Fly" has earned more than 500 million yuan since it was released on December 16. The film's producers are optimistic about the continuing growth in box office, and are expecting a total of more than 600 million yuan.

Currently, the United States is the undisputed king of box office sales, with its box office revenue in 2010 projected to hit $11 billion. Japan is No. 2 at 2.5 billion. China's media regulators expect China to overtake Japan by 2015.