Online literature industry continues to grow

The Chinese online literature industry continued to grow last year, offering readers more quality works, and the development of related intellectual property accelerated, according to a report released on Monday.

The 2023 Report on the Development of Chinese Online Literature, released by the Chinese Academy of Social Sciences' Institute of Literature, mapped the latest development trends in the online literature industry from the perspectives of value positioning, themes, the creative ecosystem, intellectual property and international development.

The report found that by the end of last year, the market value of Chinese online literature had reached 40.4 billion yuan ($5.6 billion), up 3.8 percent year-on-year, while the market value of intellectual property in Chinese online literature jumped nearly 10 billion yuan to 260 billion yuan.