Xiamen (China), 28 February 2012, Art Media Agency (AMA).
A world first, the city of Xiamen will see the opening in two years from now the first “financial” centre dedicated to art: the Xiamen International Art & Financial Trading Centre. The news was reported by the local paper, Xiamen Daily, which announced that construction should begin this year.
Construction is estimated at 1.7 billion RMB (close to €200 million) and is being undertaken by the sales company Beijing Huachen Auctions Co. The Xiamen International Art & Finance Trading Centre is being marketed as a multi-purpose platform for art and business. Most notably, one should find auction sales, exhibitions, appraisal services, galleries, art restorer, as well as companies concerned with the logistics of business – in sum, all services dealing with the art market.
According to Gan Xuejun, President of the Beijing Huachen Auctions Co., the city of Xiamen was chosen for its close proximity to Taiwan, but its free zone must have also played a role in this decision. Xuejun hopes to compete with cities like Pekin and Shanghai.