《小时代3》首映登票房榜首

The third instalment of author-turned-director Guo Jingming's youth-driven drama, "Tiny Times" raked in over 100 million yuan, or some 16 million US dollars, on its first day at the box office Wednesday.

Figures roughly tallied by China's mainstream cinemas show that "Tiny Times 3" overtook two-thirds of the domestic box office on its premiere date.

Based on Guo's own novels of the same name, the "Tiny Times" series tell the stories of four females in their 20s chasing love, success and their own respective slices of the luxury life.

The series has been widely criticized for promoting shallowness, wasteful spending and an obsession with material possession among China's youth.

Guo himself is something of a living example of his stories.

Not starting from a position of privilege, Guo is now one of China's richest writers and was counted among Forbes China's "30 Under 30" successful entrepreneurs in 2012.