(Yicai) Dec. 26 -- As part of Shanghai’s annual industry awards, the Chinese city has recognized leading companies in its cultural sector, including video games developer MiHoYo and video-sharing platform Bilibili.

The city's top 10 cultural enterprises also include East China Normal University Press, one of China's oldest educational publishers, and retailer Yuyuan Tourist Mart Group.

The fifth annual awards ceremony, held today, was jointly organized by Yicai and the Shanghai Cultural and Creative Industry Promotion Association under the guidance of the Shanghai Publicity Department and the Shanghai Municipal Administration of Culture and Tourism.

The number of application forms received this year jumped 40 percent to 185, with more than 130 enterprises taking part from across film and television, the performing arts, entertainment, gaming, and e-sports. Nominations for key individual cultural figures was up by 50 percent. Notably, applicants under 40 represented 40 percent of the nominees.

The top 10 companies generated CNY118.8 billion (USD16.3 billion) in revenue last year, averaging 28 percent annual growth between 2021 and last year, while their profits climbed 46 percent a year over the period. 

Several significant achievements were highlighted during the awards ceremony. As of last month, China Literature's overseas e-book platform WebNovel has published around 6,000 translated Chinese texts, featuring 680,000 original works, 449,000 writers, and nearly 300 million readers.

Mobile Legends: Bang Bang, a game developed by ByteDance subsidiary Moonton Games, ranks among the top three best-selling titles in a number of Southeast Asian markets, including Indonesia, Malaysia, and Singapore.

Chinese TV content continues to expand globally. Stellar Pictures' fantasy-romance series Love Between Fairy and Devil entered the top five on Netflix in South Korea, India, Thailand, and other markets. Meanwhile, AHA Entertainment's Scissor Seven became the first Chinese animation series to debut on Netflix Originals, reaching audiences in over 190 countries and regions.

Award recipients have also demonstrated social responsibility. Shanghai-based Senyu Culture & Media established a public welfare fund and volunteer service team supporting children and development in rural China, while MiHoYo, the creator of blockbuster game Genshin Impact, promoted rainforest conservation through a public welfare film on Discovery Channel.

Shanghai's major cultural businesses had total revenue of CNY964.3 billion (USD132.1 billion) in the first three quarters of this year, benefiting from support in financing, hiring, and international trade.

Editor: Emmi Laine