www.cbbc.org © china-britain business council the chinese art market: opportunities &...

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The Chinese Art Market: The Chinese Art Market:

Opportunities & Opportunities &

ConsumerismConsumerism

By 2020 the incomeBy 2020 the income

of China’s population of China’s population

will doublewill double

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More than 160 citiesMore than 160 cities

with a population over with a population over

1m1m

In US just 9In US just 9

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The 12th Five Year Plan• Wealth distribution• Inland development• Consumption• Social Security• Higher Value• Innovation• Services• Green Growth

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Five Myths of Chinese Art

1) It’s all about speculation

2) It’s all about forgery

3) There are no rules

4) It’s only a local market

5) It’s all about Mao / Imperial

Forbes Magazine 2014

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Middle Income Consumers

•Around 70% of urban household are middle income

households, 175m will grow to 275m by 2022

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Urban Consumption

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Consumer Pressures

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80% of purchases by Chinese luxury consumers have been researched on social media

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Luxury Buyers

20%

70%

10%

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Quality

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Trends, opportunities and tips

• Growing market, local partnerships

• Be government aware

• Understand human story and where the need is

• Speed and technology / Conservative insular

• Foreign advantage: knowledge, innovation and

brand

• Investments, passions and consumption

• Online and innovative approach for younger

consumer

• Provide professional and personal education and

services

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How to succeed?

• See China through Chinese eyes

• Align to help Chinese growth, consumption and

innovation

• Takes air miles, shoe leather and empathy. A

deep understanding of the Chinese mindset is

crucial. China is not as other nations.

Fenella.Barber@cbbc.org

Enquiries@cbbc.org

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Our Top Tips

1. Don’t forget the basics.

2. Remember China is not one single national

market.

3. Do your homework.

4. Recognise the value of relationships.

5. Be patient and persistent.

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