The Third Shanghai International Online Literature Week, which brought together online literature writers and industry professionals from 16 countries, was held in Shanghai from Dec 16 to 18.

During the event, the China Audio-Video and Digital Publishing Association released the "2024 China Online Literature Overseas Trends Report", which revealed that in 2023, the overseas market revenue of China's online literature industry reached 4.35 billion yuan ($597 million), a year-on-year increase of 7.06 percent.

It was noted that Chinese online literature is currently accelerating its growth overseas. Artificial intelligence and "AI translation" are expected to facilitate the global distribution of Chinese online literature in the future.

As one of the main platforms for the international dissemination of Chinese online literature, Webnovel, the overseas portal of China Literature Group, has published approximately 6,000 translated Chinese online novels as of the end of November. This year alone, over 2,000 new AI-translated works have been added, marking a 20-fold increase year-on-year.

Ao Ran, executive vice-chairman of the China Audio-Video and Digital Publishing Association, says that Chinese online literature reflects the changes of the times, social progress, and the spiritual pursuits of people. It provides a wealth of IP resources for cultural consumption, effectively empowering the high-quality development of China's new online literary industry, he says.

Hou Xiaonan, chief executive officer and president of China Literature Group, says that as Chinese online literature goes global, not only can IP be globalized, but the model for creating online literature IP can also be globalized. By leveraging the "content — platform — IP" full industrial chain overseas model, Chinese online literature will have a broader global stage.

The Third Shanghai International Online Literature Week also featured activities such as a roundtable for Chinese and foreign writers, the 2024 Webnovel Annual Writing Contest Awards Ceremony, and the "Reading Tour of Shanghai" cultural exploration event.