The "Guzi" economy boomed in 2024 and even boosted the real economy, says Tang Qiao, deputy director of the research center of online literature under the Institute of Literature with the Chinese Academy of Social Sciences. Two big players in 2024 were the "Guzi" related popular online novels Joy of Life and The King's Avatar and their adaptations.

For Yuewen Group, 2024 also marks an important year for exploring the overseas "Guzi" market, says Mei Renjie, general manager in charge of overseas business of the group, one of the world's largest online literature platforms.

"Our works are known for distinctive storytelling and character depth. The 'Guzi' culture will facilitate us to better develop the IPs of good stories and increase their influence."

Yang Zhan, the group's general manager of content operations, says that captivating stories are the core appeal of Chinese online literature abroad. This appeal is rooted in two main aspects, he says. First, it originates from the commercialization of online literature pay-to-read models developed over 20 years ago, which motivated writers to improve their storytelling skills. Second, it stems from the serialized nature of online literature creation where reader-author interactions make it more engaging and companionable, he says.

During the international online literature week, a report released by the China Audiovideo and Digital Publishing Association revealed that in 2023, China's online literature industry earned 4.35 billion yuan ($597 million) from international markets, a 7 percent increase from the previous year.

Chinese online literature are rapidly gaining traction with the potential for artificial intelligence and AI translation to enhance their worldwide distribution.

For instance, Webnovel, an international portal under the group, published around 6,000 translated novels by November, including over 2,000 AI-translated works this year, a 20-percent rise from last year.

Being part of the week, the Webnovel Spirity Awards 2024 awarded 15 titles created by writers around the world.

Among them, Two Times Rejected Luna, the Desire of All Alphas by Ghanaian Glorious_Eagle, Mr President: You Are the Daddy of My Triplets by Pakistani JessicaKaye911, The First Legendary Beast Master by Canadian writer Aoki_Aku, and Obtaining 10x Rewards! Reincarnated into a Novel as a Side-character! by Indian writer Winter-Dragon_1 won gold awards.

In overseas markets, Yuewen Group has been developing online novels into other adaptations. Nearly 70 percent of the WSA winning titles have been adapted into printed books, audiobooks, comics, TV series and films. Among them, the audiobook adaptation of My Vampire System has been viewed 243 million times, works like Hero of Darkness have been adapted into comics, and The Billionaire's Genius Wife has been adapted into short videos.

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