​Shanghai FTZ innovates trade methods for cultural goods

A poster of the SH FTZ Art Season. [Photo/official WeChat account of the administrative committee of the China (Shanghai) Pilot Free Trade Zone]

The world's first art exhibition that is held in bonded warehouses took place in the China (Shanghai) Pilot Free Trade Zone on Oct 12.

During the SH FTZ Art Season, a total of 16 art galleries from across the globe exhibited more than 200 paintings, sculptures, and installations for sale. All of the exhibits made their debut in the Chinese mainland. The exhibition hall was comprised of eight "art boxes" in different shapes, providing visitors with unique visual effects and experiences.

Visitors enjoy artworks at the SH FTZ Art Season. [Photo/official WeChat account of the administrative committee of the China (Shanghai) Pilot Free Trade Zone]

The art exhibition was a warm-up event for the trade in services exhibition of the fourth China International Import Expo, which will be held from Nov 5 to 10 in Shanghai, said Jiang Mingwei, general manager of Shanghai FTZ International Cultural Investment Co. The company is the organizer of the art season, as well as an authorized partner to attract exhibitors for the cultural section of the trade in services exhibition.

Liu Fuxue, deputy director-general of the CIIE Bureau, said that the cultural section is expected to help the art and culture industries create more value.

Several participants in the art season, like Arario Gallery, Edouard Malingue Gallery, and Gana Art, have confirmed their participation in the CIIE, according to Jiang. He added that other exhibitors at the art season would also have opportunities to attend the expo and enjoy tax exemptions for their first five pieces of works that are sold.

The preferential tax policy was introduced before the third CIIE in 2020 in order to boost sales of art exhibits.

To date, the trade volume of cultural goods in the Shanghai FTZ has increased to 35 billion yuan ($5.44 billion) in total. The imports and exports of cultural goods during the first half of 2021 reached 6.7 billion yuan, exceeding 2020's total, and are expected to surpass 16 billion yuan for the whole year.