American Dreams in China, a drama by Hong Kong director Peter Chan, knocked Hollywood blockbuster Iron Man 3 off the top of the Chinese box office charts in the week ending on Sunday.

The film, which tells the story of a trio of entrepreneurs who establish an English language training service, has pulled in 108 million yuan (about $17.6 million) since its Friday debut, China Film News reported on Tuesday.

"Iron Man 3," the third installment of the "Iron Man" franchise, earned 84 million yuan during the week.

"So Young," a drama by actress-turned-director Zhao Wei, took third place with 58 million yuan.

Not far behind was Tom Cruise's sci-fi adventure "Oblivion," which took in 54 million yuan.

The fifth-place spot went to "The Croods," a cartoon set in the Stone Age that took in 39 million yuan in the week, China Film News said.