SHANGHAI - The China International Import Expo for the first time established a cultural relics and art section this year. Major auction houses made their debuts at the fourth iteration of the expo in the hope of attracting Chinese collectors.
The special section had an exhibition area of more than 1,200 square meters and hosted 178 exhibits, with a total estimated value of 2.35 billion yuan ($367 million). It attracted 20 overseas agencies from 11 countries and regions, including renowned auction houses such as Sotheby's and Christie's.
Sotheby's presented a selection of masterworks by artists, including Claude Monet, Marc Chagall, Alberto Giacometti, Yayoi Kusama and Zhang Daqian. The works served as outstanding examples of each artist's oeuvre, spanning decades and traversing continents.
The masterpieces on display were made available to purchase through private sales, offering collectors an alternative sales channel to auctions, and catering to the more sophisticated and diversifying tastes of Chinese collectors, Sotheby's says.
During the expo that ran from Nov 5-10 in Shanghai, each exhibitor selling artworks, collectibles and antiquities could enjoy the preferential policy of exempted import duty, import value-added tax and consumption tax on no more than five pieces.
The CIIE is an important platform for international companies to tap into the Chinese market. By participating in the CIIE, Sotheby's will not only bring exceptional works of art to the doorsteps of China's art lovers and the general public, but also continue to learn about China's local arts and culture, Sotheby's says in a statement.
"We are very grateful for the government's initiative enabling Sotheby's to bring exceptional works of art at this year's China International Import Expo, which fosters global cultural exchanges and further develops the arts and culture industry in China," says Nathan Drahi, managing director of Sotheby's Asia.
Christie's, another well-known auction house, also presented a range of masterworks by Eastern and Western art titans, including Francesco Guardi, Camille Pissarro, Chagall and Zhang.
Rebecca Yang, chairman of Christie's China, says of the eight masterpieces they selected for the fourth CIIE, five were put up to be purchased duty-free, a favorable policy for both collectors and the auction house. She adds that the CIIE opened up new ideas for Christie's to explore innovation and development in China.
Jiang Mingwei, general manager of Shanghai Free Trade Zone International Culture Investment and Development, says the company as a strategic partner of the expo bureau, has provided a one-stop service for the smooth customs clearance of artworks. He adds that in addition to promoting trade in goods, the expo has also built a platform for people-to-people exchanges.
In addition to the original artworks, the cultural relics and art section also displayed derivatives of well-known overseas cultural institutions such as the Louvre and the British Museum.
Alfilo Brands, a consumer products company with exclusive rights to many art and cultural properties, including the British Museum, has created a series of dazzling cultural and creative products along with the Metropolitan Museum of Art and the Shanghai Museum. These products were displayed at the fourth CIIE.
Jiang Xuheng, deputy general manager of Alifish, Alibaba Group's entertainment arm, says the realization of the commercial value of intellectual property has gradually achieved sustained growth, attributing this growth to the development of the content industry and the strengthening of intellectual property protection.
In recent years, cultural and creative products that combine overseas cultural intellectual property items with Chinese traditional intangible handicraft culture have become very popular among young consumers, and the charm of cultural exchange has become increasingly prominent, Jiang adds.
