A Modern History of China's Art Market - Kejia Wu

A Modern History of China's Art Market

By: Kejia Wu

Hardcover | 8 May 2023

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This is the first English-language account of the modern history of China's art market that explains the radical transformations from the end of the Cultural Revolution, when a market for art and artifacts did not exist, to today.

The book is divided into three sections: Part I examines how the art market in China was suspended during the Cultural Revolution, restarted, grew, and expanded into its current scale. Part II analyzes the distinctive value system of the Chinese art market where the state-run art system including academies, artist associations and museums co-exist with an independent market-oriented system; and traverses the most significant policies that drive decision-making and market structure. Part III explores the driving force of art creation by telling the stories of five contemporary artists across three generations.

Arts and culture professionals, scholars, and students interested in Chinese art, global art markets, Chinese government policy, and China will find this to be a valuable resource.

Industry Reviews

There is much to be learned from this fascinating volume on the history and economics of the art market in the People's Republic, so radically affected by political events of the last seventy years. Readers interested in the restitution of looted works of art will discover a relatively unknown seam of material on the Cultural Revolution and its aftermath, enriched by Kejia Wu's inclusion of personal recollections and experiences of those involved.

---- Derek Gillman, Distinguished Teaching Professor and Executive Director, University Collections and Exhibitions, Drexel University, former Director of the Barnes Foundation

It is rare to find a book that embeds art into the broader political events and economic transformation of a nation. Kejia Wu's perspective is unique - she was part of the re-emergence of contemporary art in China, and the re-integration of China into the global art world and market, and has remained an authoritative commentator and analyst about the art and markets of China. Her stories are fascinating, the writing is engaging and the tale she tells is an important one about the role of art, and arts institutions in the modern world.

---- William N. Goetzmann, Edwin J. Beinecke Professor of Finance and Management Studies Yale School of Management

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