Latest News:  
Beijing   Overcast/Cloudy    27 / 22 ℃  City Forecast

English>>Life & Culture

Beijing's culture free port to open?

By Liao Danlin (Global Times)

08:59, August 23, 2012

China's art market to see potential boost from free trade zone

"A free trade zone is not a freeport," said Shen Mingchu, the deputy president of Beijing Gehua Cultural Development Group, referring to the recent discussion stirred by a report from The Art Newspaper with the headline, "Beijing to get freeport to challenge Hong Kong's supremacy."

The Gehua group and the management committee of Beijing Tianzhu free trade zone have jointly established a culture free trade zone in Tianzhu, near Beijing Capital International Airport.

The project, which aims to promote cultural communication and trade by offering different levels of policy advantages in that area, was supported by the people's government of Beijing and the Ministry of Culture.

Changing policies

Since the ground-breaking ceremony in March, discussion about the free trade zone has not stopped.

In April, China changed its policies surrounding custom duties. The tariff rate on artworks was reduced but supervision became tighter.

A few large transportation companies providing services to auction houses faced pressure from customs. The 17 percent value-added tax did not change.

Many art collectors and auction companies have complained about the changing policy in China while anticipating the arrival of a free trade zone to bring in relief for the market.

The free trade zone will allow international companies to exhibit, trade and hold auctions for cultural products, tax free in the given area. Many see this as a positive influence on the Chinese mainland art market.

"People are unclear about the idea of a free trade zone. It has little effect on collectors who want to bring art to China," said Shen, who explained that the concept of a free trade zone was mistaken by many media organizations as a "freeport".

"The cultural environment in Beijing is not comparable to Hong Kong. The art transaction market is mature in Hong Kong, a real free port," said Shen.

【1】 【2】 【3】


Recommendations:
News we recommend

Odds

Travel

Sports

Top four vegetables that help lose weight in autumn

Seven foods that enrich your blood

Sweet drinks may cause seven diseases

Three "poisons" that destroy men's health

Five 'super' foods you cannot miss in summer

Top 18 cancer fighting fruits and vegetables

Email|Print|Comments(Editor:雪萌、叶欣)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. APF forest detachment conducts military training

  2. Hey guys! Where should we put all these bikes?

  3. More new grads opt for State firms

  4. Dancing competition held in E. China

  5. 24 Of The Hottest Body Paint

  6. How to marry a billionaire

Most Popular

Opinions

  1. Editorial:Corporate competitiveness
  2. WTO membership win-win step for Russia, world
  3. More representative delegates
  4. Do ratings agencies buoy Italy's optimism?
  5. Right move in VAT direction
  6. EU, China extend hands of friendship
  7. Editorial: Rules for stock market
  8. U.S.-S. Korea drills harmful to regional stability
  9. Wake-up call for industry
  10. Is Romney trounced, or has more tricks?

What's happening in China

Desperate bid to save Yangtze river pig

  1. Shanghai exposes professional beggars
  2. Real estate financier held on fraud charges
  3. Chinese continue to seek residency overseas
  4. Controversial Hunan fine policy may be scrapped
  5. Army worm outbreak brought under control

China Features

  1. Classic routes for domestic self-driving tours
  2. Billionaires' marriage-seeking attracts women
  3. Top three nourishing foods in autumn
  4. Experts divided on yuan's future
  5. Unforgettable records of London Olympic Games

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai