The nation will soon become the world's second largest film market, says a local film mogul.

"The box office gross of 2010 will reach a record 10 billion yuan ($1.47 billion)," according to Han Sanping, chairman of the state-owned China Film Group. He was speaking at a press conference ahead of the release of the blockbuster Let the Bullets Fly, on Dec 16.

"It ranks sixth in the world now and will be next only to the United States in 2011," Han says.

Jiang Wen celebrates Let the Bullets Fly. Provided to China Daily

He points out that three new screens have been added every day in China in 2010 and in 2011 the total number of screens is expected to stand at around 8,000.

"While the theaters, screens and viewers are seeing rapid growth, the price of tickets has been falling," he says.

Han also anticipates that in 2011 China will see films that are able to rake in more than 100 million yuan a day.

In December, three blockbusters including Bullets will hit the screens, Han says.

Spearheading the onslaught is Chen Kaige's Sacrifice, a period tragedy about murder, lies, revenge and redemption. It will premiere on Dec 4.

Feng Xiaogang's sequel to last year's smash romantic comedy If You Are the One, will follow Bullets. With renowned writer Wang Shuo on board as scriptwriter and Ge You leading the cast, the film to be released on Dec 22, is widely expected to be a big player during the winter holiday season.

"The three films will significantly up box office earnings in China," Han says.

Of the three upcoming releases, Han speaks most highly of Let the Bullets Fly, a film with a stellar cast of Chow Yun-fat, Jiang Wen and Ge You.

"You will spend two hours watching the film, but more hours to think about it and even longer to discuss it," he says.

Set in the 1930s, the film tells the story of a local official, a bandit and a gangster caught in the chaos of war.

Jiang Wen, who directs the film and also plays in it, says he is ready for the competition from the other two directors.

"Feng did a cameo in my film, and Chen helped with the dubbing," he says. "I hope more good films will hit the theaters. Three are far from enough."