Procurement intent for seven artworks reached
Fruitful results were yielded at the artwork and antiquities section on the opening day of the 4th China International Import Expo.
Procurement intent involving seven artworks was reached on Friday with their combined value amounting to more than 140 million yuan (US$21.9 million), according to the Shanghai Administration of Culture and Tourism.
They are from six exhibitors including Sotheby's, Christie's and HENI, a UK-based international arts institution.
This year's expo has introduced tax exemption policies, allowing each institution participating in the event to trade five art and cultural relic pieces with zero tariffs within the expo period. This will encourage international arts trading and cultural exchanges, especially the return of China's cultural relics.
At last year's expo, the trade volume of five artworks totaled 297,600 yuan.
To further promote the artwork trading volume and the return of cultural relics, this year's CIIE has established a cultural section in the services trade exhibition area for the first time.
The display area amounts to more than 1,200 square meters with 178 exhibits on display.