The mainland art world is keenly watching whether this year’s Hong Kong art week can buy the Chinese art market, which saw a rebound in 2023, as noted in The Art Basel and UBS Art Market Report 2024. Amid a hesitant economy and still-fresh memories of Zero-COVID policies, the art week may also shed light on what the Chinese and Asian art scenes will look like going forward.
‘The pandemic catalyzed deep-seated ideological and cultural contradictions between China and the West, leading to a gradual stratification among collector communities,’ observes Regina Zhang, one of the young collectors behind Nanjing’s Sixi Museum, established last year. Within China, some collectors focus on local art and others on joining the global art milieu; some increasingly specialize in particular styles and concepts, while others venture into new areas, like digital and virtual art. ‘Besides,’ says Zhang, ‘there has been a heightened awareness of the social and cultural impact of art.’
Chinese collectors are eagerly rejoining the global art jet set, travelling to fairs and other big events; a welcome reprieve from PDF purchasing, says Zhang Yunjia (no relation), the collector behind Suzhou’s Iris Art Museum. The return to in-person viewing has slowed collectors’ purchasing pace, she says: ‘Sometimes, after seeing the physical artwork, the idea of collecting it is abandoned, or the decision to collect is not made immediately, leading to a longer period of observation instead.’
