The Chinese mainland's box office revenue for the three-day Mid-Autumn Festival holiday season, including presale earnings, exceeded 200 million yuan (around 28 million U.S. dollars) as of 13:46 Monday, according to data from Internet platforms.
The top three films on the Mid-Autumn Festival box office chart on the Chinese mainland were drama film "Stand By Me", comedy "A Frozen Rage" and drama film "Like A Rolling Stone".
A total of 14 movies are being screened on the Chinese mainland during this year's Mid-Autumn Festival holiday, which started on Sunday.
"Comedies are my favorites. I just like the feeling of spreading happiness among people," said a moviegoer in Beijing.
"I watched the 3D version of 'The Wandering Earth II'. Its visual effect is better and the overall effect is stronger. It has a complete story line," said another moviegoer.
Chinese mainland's Mid-Autumn Festival box office tops 200 million yuan
The U.S. Federal Reserve on Wednesday slashed interest rates by 50 basis points amid cooling inflation and a weakening labor market, marking the first rate cut in over four years.
"The Committee has gained greater confidence that inflation is moving sustainably toward 2 percent, and judges that the risks to achieving its employment and inflation goals are roughly in balance," the Federal Open Market Committee (FOMC), the central bank's policy-setting body, said in a statement.
"In light of the progress on inflation and the balance of risks, the Committee decided to lower the target range for the federal funds rate by 1/2 percentage point to 4-3/4 to 5 percent," the FOMC said.
This signals the start of an easing cycle. Starting from March 2022, the Fed had raised rates consecutively for 11 times to combat inflation not seen in forty years, pushing the target range for the federal funds rate up to between 5.25 percent and 5.5 percent, the highest level in over two decades.
After maintaining rates at the high level for over a year, the Fed's tight monetary policy faced pressure to pivot due to the easing of inflationary pressures, signs of weakening in the job market, and slowing economic growth.
U.S. Fed slashes rates by 50 basis points, first rate cut in four years
