The much-anticipated "Yingxiong (Hero)," renowned director Zhang Yimou's first martial-arts epic, premiered to reporters at the Great Hall of the People in Beijing on Saturday.
The film, which was produced with costs of record-setting 256 million yuan (US$31 million), has been eagerly awaited by film-lovers and world media over the past year.
It boasts the hottest Chinese movie actors and actresses such as Hong Kong super stars Tony Leung Chiu-wai and Maggie Cheung Man-yuk, Hollywood kung fu star Jet Li and the rising mainland star Zhang Ziyi who caught the world's attention in "Crouching Tiger, Hidden Dragon."
About 200 Chinese reporters and 400 journalists from around the world watched the one-and-a-half hour film before Zhang Yimou and 15 crew members answered questions.
Many viewers were quite satisfied with the movie, giving high praise to the eye-catching colours, original script and impressive scenes, according to Beijing Youth Daily.
But some were not all-together pleased.
"I am very disappointed with the movie, it is not as wonderful as I expected," said Zhang Hongbo, a reporter from "Qilu Evening News" in East China's Shandong Province.
Zhang Yimou said he was looking to make a film that would be a box office hit.
"My idea of the film was for it to be not too lofty or sublime. I just thought let us make a good film, make it attractive and get people to come and see it," he said.
He added that he did not have any expectations for winning an Academy Award, despite some of the speculation among Chinese media that the movie was made for that purpose.
The Beijing New Image Audio-visual Company will distribute the film domestically and has already been assured of ticket sales worth 60 million yuan (US$7.2 million). They actually expecting to exceed 100 million yuan (US$12 million) - which would make it one of the most successful Chinese films ever made.
Late last month, domestic DVD and VCD rights for the movie sold for 17.8 million yuan (US$2.15 million), setting another record for Chinese movies.