Hong Kong\u2019s leader aims to elevate the city into a \u201cworld-class high-end art trading hub\u201d to rival New York under measures to be revealed in his fourth policy address next Wednesday, the Post has learned.<\/p>\n
Efforts to strengthen the city\u2019s multibillion-dollar art trading industry would include boosting services in financing, insurance and professional training, and designating maintenance and storage spaces in a cultural hub and near the airport, a government source said.<\/p>\n
The move will align with the central government\u2019s 14th five-year plan, which states that Hong Kong should become an East-meets-West centre for international cultural exchange and consolidate its leading position in the international art market.<\/p>\n
\u201cHong Kong has the potential to become a world-class high-end art trading hub alongside New York,\u201d the source said.<\/p>\n
\u201cThe authorities can offer a much more comprehensive ecosystem, ranging from infrastructure, financing, insurance, tax incentives and professional training.\u201d<\/p>\n
According to the Census and Statistics Department, the total traded value of artworks, collectors\u2019 pieces and antiques in Hong Kong reached around HK$105.5 billion (US$13.5 billion) in 2023, making the city one of the world\u2019s top three art trading centres.<\/p>\n","protected":false},"excerpt":{"rendered":"Hong Kong\u2019s leader aims to elevate the city into a \u201cworld-class high-end art trading hub\u201d to rival New…\n","protected":false},"author":2,"featured_media":59162,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[267],"tags":[42559,35483,365,362,363,364,2786,42560,42557,381,31720,366,42562,18,117,4202,19,17,42556,42558,968,42563,42561,42555],"class_list":{"0":"post-59161","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-arts-and-design","8":"tag-airport-city","9":"tag-art-basel","10":"tag-arts","11":"tag-arts-and-design","12":"tag-artsanddesign","13":"tag-artsdesign","14":"tag-asia","15":"tag-bernard-chan","16":"tag-betty-fung-ching-suk-yee","17":"tag-china","18":"tag-david-zwirner","19":"tag-design","20":"tag-east-meets-west-centre","21":"tag-eire","22":"tag-entertainment","23":"tag-hong-kong","24":"tag-ie","25":"tag-ireland","26":"tag-john-lee-ka-chiu","27":"tag-legislative-council","28":"tag-new-york","29":"tag-patricia-crockett","30":"tag-ubs-art-market-report","31":"tag-west-kowloon-cultural-district"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/59161","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=59161"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/59161\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/59162"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=59161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=59161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=59161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}