The 14th China International Cartoon & Animation Festival dropped its curtain  in May in Hangzhou city, East China's Zhejiang province.

This year's festival was marked by a record high turnout since its establishment in 2005.

The six-day event attracted 2,641 organizations and institutes as well as 5,760 traders, exhibitors and professional viewers from 85 countries and regions.

This year's animation festival also shattered its record on turnover, which amounted to 16.3 billion yuan ($2.56 billion).

Here are three key takeaways on Chinese animation industry from the festival. Let's take a look.