Shanghai establishes center, expo for art and antique trade

Share This Post

On March 2, Shanghai announced the official establishment of the Shanghai International Antiques and Fine Art Trade Center. The move marks the city's latest step toward its goal of becoming an international trading hub for the sector.

Fang Shizhong, head of the municipal administration for culture and tourism, says, starting this year, a China international cultural relics and artworks trade expo will be held annually from Oct 26 to 28 at the Museum of Art Pudong. It will be the only official international cultural relic and artwork commodity exchange in China.

The city has also pledged to push forward duty-free sales of art and cultural relics at the China International Import Expo every year, as well as accelerate legislation concerning the art and antiques market.

In 2021, exhibitors at the fourth CIIE were permitted to bring five cultural relics without having to pay taxes. The CIIE featured, for the first time, 178 artworks and antiques-with a combined value of 2.3 billion yuan ($363.74 million)-from 11 countries and regions. Forty-one items with a total value of 760 million yuan were sold at the event.

This year, the CIIE will, for the first time, set up a dedicated exhibition zone for art and antiques to further facilitate such sales, according to Fang.

Shanghai, which has 78 auction companies engaging in the trade of antiques, has always been the most vibrant art market in China. In 2020, the State Administration of Cultural Heritage kicked off a series of trial operations in Shanghai concerning the administration of the exhibition, trade and appraisal of antiques.

The new policy enabled international auction houses to showcase and sell works of Western masters such as Pablo Picasso, Marc Chagall and Salvador Dali.

British auction house Christie's, which has been operating in the Chinese market since 2013, was one of the first institutions to benefit from the new policies. Last week, the company hosted its first sales event in Shanghai after the COVID-19 pandemic forced a halt to public auctions in 2020. The 20th and 21st Century Art: Shanghai Evening Sale saw more than 220 million yuan worth of artworks sold, a 50 percent growth from 2019.

"The success of the auction in Shanghai marks a monumental chapter in our company's history and underscores our continued commitment and innovation in the Chinese mainland," says Rebecca Yang, chairwoman of Christie's in China.

"The 20th and 21st Century Art: Shanghai Evening Sale brings our footprint here to the next level. It demonstrates our dedication to the Chinese market and support for the new policies by the local authorities, which will enable us to sell works by foreign artists who died after 1949 and that were consigned overseas," she adds.

In 2021, Shanghai hosted 1,004 auction events that generated 6 billion yuan in sales, accounting for a quarter of the national total.

The city is also one of the busiest ports in China for the import and export of antiques. Last year, 7,309 items entered or exited the country via Shanghai.

According to Fang, Shanghai will establish the first provincial-level credit supervision platform for the trade of art and antiques. The entire transaction process for an antique piece will be digitally administered on this platform.

Follow on Twitter and Facebook to join the conversation.
ChinaNews App Download

Related Posts

Majority of China’s museums now offer free admission

The total number of Chinese museums rose by 395 to 6,183 in 2021, 90 percent of them offering free admission, said a senior cultural official Wednesday.

Translating Chinese literature: Cross-cultural communication

In 2012, Chinese writer Mo Yan won the Nobel Prize in Literature, and his works have since been translated into at least 40 languages with more than 200 versions read worldwide. In 2020, online Chinese literary works attracted more than 83 million overseas readers, a 160.4-percent increase year on year. Chinese literary works have become an important window for foreigners to understand Chinese culture. Translators, as messengers of cultural exchange between China and foreign countries, have played an important role.

Father empowers disabled daughter with music

A girl with an intellectual disability from Suzhou, Jiangsu Province has learned to play more than 300 songs with Erhu and flute and has won many prizes thanks to her father.

Yu Zhongxian: Understand to be understood

"Translation is understanding and making others understand," said translator and professor Yu Zhongxian during a recent interview he gave to China Pictorial (CP). "I operate a ferry, a bridge between two shores empowering Chinese readers to gain richer knowledge of other countries."

Iljaz Spahiu: My own private China

"Mandarin Chinese is appallingly difficult to learn!" Albanian sinologist Iljaz Spahiu waved his hands and couldn't help bursting into laughter when recalling his first Chinese course. In 1974, when he was only 19, Spahiu set out from Tirana, capital of Albania, and flew across the Eurasian continent to Beijing. He enrolled in a Chinese class at Beijing Language Institute (now Beijing Language and Culture University). After more than a year of studying there, he went to Peking University for a program on Chinese studies.

Mark Leenhouts: Slow fire makes well-done translation

At the very first sight, few understand the grave lexicography of the Chinese character"𡈙(yóu)." But Mark Leenhouts is quite familiar with how the pictograph depicting a "a caged bird" on his WeChat profile vividly captures the nature of the translation profession—"a decoy bird."
- Advertisement -spot_img