A look at the Chinese art market in the second decade of the 21st century

Abstract

The extremely dynamic development of the Chinese art market, in
a broad sense, in recent decades, reflects the growing role of the Chinese
economy in the world and the growing wealth of Chinese society. In the years
2008–2011, this market recorded a growth of 500 proc. unprecedented in any
other region of the world. In 2018, China’s share in the global art market at
19 proc. confirmed a strong position of this country as one of the top three
art markets in the world. At the same time, the Chinese auction market
was second in the world. The People’s Republic of China owes its position
as a world leader above all to the significant economic reforms of recent
years, the effective implementation of the open door policy, and its enormous
cultural potential. Chinese culture is a priceless treasure of all mankind,
preserved in facilities subject to economic trading. There are few countries
that can compete in terms of the wealth of artistic activity with China, one of
the biggest states that are a source of cultural property in the world and one
of the largest art markets. The purpose of the article is to present the most
important issues of the Chinese art market in the last two decades.