South China Morning Post Highlights Hong Kong's Rise as a Premier Art Trading Center

Hong Kong Elevates Its Status as an Art Trading Center

Hong Kong, which is globally recognised as a leading hub for East-meets-West cultural exchanges, is also one of the world’s top three art trading centres – a remarkable achievement given the competition involved. That status was confirmed by the latest government statistics, which show that the total trade value of works of art, collectors’ pieces, and antiques last year was close to HK$105.5 billion (US$13.5 billion), with signs that there is still plenty of scope for continuing growth.

InvestHK, the government agency responsible for attracting foreign direct investment and providing practical advice and assistance for mainland Chinese and overseas-based businesses looking to set up or expand in the city, has played a big part in this success story. It supports companies across every sector, from recent start-ups to long-established institutions, as they navigate rules, regulations, and tax codes and set things on the right course.

Bonhams Expands in Hong Kong

• In October, the international auction house Bonhams opened its new Asia headquarters in Hong Kong as part of a strategic initiative to drive continuing growth.
• Julia Hu, managing director at Bonhams, stated that Hong Kong presents a unique blend of cultural and commercial strengths.
• Bonhams has expanded its team by 20% over the past two years, reflecting its commitment to the city.

Upcoming Major Auctions and Future Prospects

Bonhams plans to leverage its new headquarters for future events, including the forthcoming Hong Kong Autumn Auctions from November 27 to December 3, showcasing categories such as Chinese art and luxury collectibles.