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New Exhibitions In China Present Country’s Top Contemporary Artists To A Domestic Audience

Interest Of New Collectors, Government Support Growing As More Museums Mount Large-Scale Exhibitions Of Work By Top Artists

Wang Guangyi's work seems to be (finally) accepted and promoted by the Chinese government's cultural elites

Wang Guangyi's work seems to be (finally) accepted and promoted by the Chinese government's cultural elites

 Recently, we translated a speech presented at the first-ever conference of Chinese collectors of contemporary Chinese art delivered in Beijing by influential art critic Li Xianting. In this speech, Li called on Chinese collectors to get busy buying, preserving and presenting top-quality works of contemporary Chinese art in order to ensure younger generations in the country will be able to view and understand their artistic heritage. Li called art collecting “a form of cultural creation,” the responsibility for which lies in the hands of the country’s new generation of art collectors. From Li’s speech:

We can’t expect the government to establish, from top to bottom, an art museum system in such a short amount of time, not least because the construction of the “hardware” is so difficult, but what’s harder is [assembling] the artwork itself, because up until now the collection in the government’s museum of contemporary art has been really poor, and not only because in the past three decades the important works of Chinese contemporary art have flowed overseas. Can the government spend the money to collect contemporary art? Aside from lack of funds, the hardest thing is that within a considerable amount of time, could the government possibly recognize the value of a contemporary art value system? 

Whether by coincidence or by design, a news item in China’s Global Times today announced a spate of high-profile museum exhibitions of two of China’s top contemporary artists, Zhang Xiaogang and Wang Guangyi. Although as recently as last month Li Xianting decried the Chinese government’s slow movement on arts education and investment in cultural capital, these two exhibitions seem to indicate that development is beginning in earnest. From the article:

While the recent inclusion of a selection of contemporary Chinese artworks in exhibitions held at state-run museums across the country has been considered by many as a sign that Chinese contemporary art has been officially embraced by the government, others in the art world are calling for more to be done to recognize the genre.

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China Now World’s Fastest-Growing Diamond Market

Country Should Overtake Japan As Second Largest Diamond Market By Sales Volume Within The Year

Diamonds are a "must have" for China's growing luxury consumer class

Diamonds are a "must have" for China's growing luxury consumer class

Falling demand for luxury products of all shades has vaulted China to the top of many lists this year, as demand in developed markets has fallen for everything from luxury cars to five-star hotels. With China’s massive population and growing middle class, even gradual growth in demand can mean a great deal for luxury brands, so diamond producers can continue to be optimistic about the potential for their products in China — soon to be the world’s second largest diamond market by sales, if the projections of Freddy Hanard, chief executive officer of the Antwerp World Diamond Centre, are correct.

As the Financial Times writes today, Hanard predicts that diamond sales in China should continue the double-digit growth they saw in the first half of the year to continue throughout the second, and says that sales could possibly double in 2010. As the thirst for luxury products continues to spread in China’s second- and third-tier cities, and wealthier Chinese maintain their desire to diversify luxury and high-value holdings — something that we have seen in recent years as they’ve increasingly purchased luxury cars, gold, rare watches and jewelry, fine wine, contemporary art from China and elsewhere, and real estate — diamonds will probably remain strongly in demand according to all indications.

“China is the world’s fastest growing diamond market. And it can go very fast. It is still discovering diamonds,” said Mr Hanard.

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