Ip Man 3 has outpunched Star Wars: The Force Awakens to nab the No. 1 spot at the local box office for a second consecutive weekend - despite having 30 fewer prints than the science-fiction blockbuster.

It is also the first Chinese movie here to cross the $5 million mark in 11 days, making a record-breaking $5.7 million since it opened on Christmas Eve.

In the four days from New Year's Eve to last Sunday (Jan 3), Ip Man 3, the third instalment in the franchise about the titular martial arts expert starring Donnie Yen, made $2.11 million with 55 prints.

That is almost a million more than the $1.14 that The Force Awakens pulled in over the same time period with 85 prints.

The Force Awakens' gross box office as of last Sunday is still higher at $8.93 million, but it had opened in cinemas a week before on Dec 17.

Earlier, Ip Man 3 had set another record for being the highest-grossing Chinese film in Singapore in a single day when it made over $765,000 on Christmas Day.