China's box office hit a new high during the Lunar New Year holiday, raking in impressive revenue as sequels to beloved films attracted crowds, even as other spending areas struggled amid slow economic growth. 

For the four days of the week-long holiday starting January 29, box office earnings soared to 5.74 billion yuan (about $791.65 million), surpassing the previous record of 5.73 billion yuan set in 2021, according to data from box office tracker Beacon. 

This surge was partly fueled by government incentives included in an economic stimulus plan. Local governments in places like Beijing, Jiangsu, Hubei, and Guangdong distributed cinema vouchers to help keep the economy on track for a modest 5% growth this year. 

Theaters in smaller towns, where ticket prices are often higher, reported full houses, with one venue in Hunan even selling standing-room tickets due to high demand. 

Leading the charge was the sequel to the 2019 fantasy hit "Nezha," which brought in over 2.3 billion yuan in ticket sales during the four-day period. This animated film tells the story of a divine child warrior from Chinese mythology who defends the innocent. 

In second place was "Detective Chinatown 1900," the fourth film in a comedy-mystery series, which earned 1.54 billion yuan. 

This year, China extended the holiday by an extra day to eight days to encourage spending, as consumers have been hesitant due to job and income uncertainties, along with a prolonged slump in the housing market. 

Many younger Chinese are ignoring official spending encouragements, opting instead to save more and share tips on cutting costs. 

The spike in movie ticket sales during the holiday underscores the government's efforts to stimulate consumer spending through subsidies. A trade-in program for older cars also helped boost sales of automobiles and electric vehicles last year, contributing to an overall consumption growth of more than 1 percentage point in 2024, according to official data.