A screen capture from film Monster Hunt. Photo: Agencies

Live action fantasy/CGI Monster Hunt has set a new record as the biggest Chinese film ever in box office revenue by raking in 1.8 billion yuan ($290.12 million) in ticket sales in the world's second-largest movie market.

The film has broken several other records, including for highest ticket sales in a single day, a single day for IMAX, opening day and opening weekend, according to data analyst Entgroup. It is now the fastest domestic film to cross the billion-yuan-mark in ticket sales, breaking the symbolic line in just eight days.

According to latest data, profits from domestic films exceeded 100 million yuan ($16.1 million) for 20 days consecutively, pushing total ticket sales in July up to 5.49 billion yuan ($897.5 million) and also setting the record for the first time in monthly domestic ticket sales by making more than 500 million yuan. Media watchdog State Administration of Press, Publication, Radio, Film and Television said on Aug 1 that box office performance in July has raised total cash so far this year to 25.9 billion yuan ($4.17 billion).

Directed by Raman Hui, who also co-directed blockbuster Shrek the Third, Monster Hunt boasts high-quality computer graphics and it star-studded cast includes rising star Jing Boran, actress Bai Baihe as well as veteran actors Sandra Ng, Eric Tsang and Tang Wei.

Together with the epic of monsters, Jian Bing Man and animated film Monkey King: Hero is Back are the trio winners at the box office this summer.

Jian Bing Man, a parody of Hollywood superhero films, has also sold more than 1 billion yuan in tickets, while Monkey King sold 204 million yuan ($32.79 million) with 5.86 million admissions.