China's artwork market has witnessed rapid growth in recent years. According to a newly-published report on this niche market, transaction volume at China's artwork auction market hit 20.73 billion yuan from the first half year of 2006 to the first half year of 2007.

The number of galleries has also multiplied in major cities, promoting the development of the art exhibition industry.

China's expanding gallery industry has attracted increasing investment from overseas capital, including Germany, Italy, United States, Japan, South Korea and Singapore and also China's Taiwan and Hong Kong. Beijing and Shanghai are their preferred locations.

For more details, please read the full story in Chinese (http://jjckb.xinhuanet.com/caijing/2008-01/14/content_81362.htm).

(China.org.cn January 14, 2008)