Sketching a recovery: China’s art market puts next-gen buyers in the frame amid slowdown
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China’s art market is showing tentative signs of recovery despite economic pressures, according to UBS, which cited rising participation from the next generation of wealthy families. “We have been seeing a rebound, with more trips for auctions and purchases [in China],” said Amy Lo Choi-wan, chairman of UBS Global Wealth Management Asia and CEO of UBS Hong Kong, in an interview with the South China Morning Post. “So...
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China’s art market is showing tentative signs of recovery despite economic pressures, according to UBS, which cited rising participation from the next generation of wealthy families. “We have been seeing a rebound, with...