Business Commons^™

Phoenix Fine Art Business Plan, Ruomu Freda Li

MA Projects

In China, contemporary art market has been growing in both value and size for the past few decades. Today, China remains to be a global industry that is worth more than $50 billion annually. (1) Chinese art market according to a report by ArtNet accounted for 20% of the global total sales in 2017. As a result, the work of the Chinese artists fetching multimillion dollars indicates the significance of the market.(2) This growth in the art market is however attracting the attention of investors and raising the confidence of art collectors. In China, traditional Chinese art has become the …