Mo Yan, China's first Nobel literature laureate, could see his income exceed 200 million yuan ($32 million) this year, according to estimates from his publisher.

Beijing Genuine & Profound Culture Development Co Ltd will publish more than 1 million copies of a collection of Mo Yan's works, which will net the writer 70 million yuan, China Economic Weekly reported.

Mo's five new books, including Our Jing Ke, which hit the market on Oct 17, is also expected to bring him royalties of 40 million yuan, the report said.

Meanwhile, Mo Yan - whose real name is Guan Moye - could further increase his revenue if his novels are adapted into movies. One of his film scripts has already been auctioned for 1.2 million yuan.

The publisher said Mo Yan's income this year could exceed 200 million yuan, which could make him China's wealthiest writer.

The author was chosen as the winner of this year's Nobel Prize for Literature on Oct 11, the prize comes with a financial award of 8 million Swedish krona ($1.2 million).