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Henan Museum
There's no place like home for Chinese antiques
Time: 2006-09-25 07:59:59

  

An increasing number of Chinese antiques scattered overseas will return and show up in Beijing auctions in the coming years.

So said Kong Fanzhi, administration director of the Beijing Municipal Administration of Cultural Heritage.

However, there are worries that fake goods could damage the antique auction sector which has been experiencing massive growth since 2003.

Kong said customs statistics show that about 10,000 Chinese ancient works of art have come back since January this year, with more returning every year.

Their return is expected to further boost the antique auction market in Beijing.

The market is expected to hit 20 billion yuan (US$2.47 billion) in trade volume in 2010, almost doubling the 2005 figure.

The proportion of returned relics is likely to be as much as 35 per cent of the total antiques to go under the hammer in 2010, Kong said yesterday.

He was introducing the work plan for his administration for 2006-2010.

The plan is part of Beijing's overall 11th Five-Year Plan, the basic document guiding the city's social and economic development in the next five years.

Fu Gongyue, deputy chief of the market division of the administration, said the antique market in Beijing is facing the growing threat of fake products, which may hamper the booming market.

"This danger may impact on this year's antique auction market," Fu observed, adding that the trade volume at antique auctions might not enjoy the same growth speed as in the past few years.

Kong said the Chinese Antique & Art Fair, a renowned antique trading platform held every autumn in Beijing, will be staged twice a year in the near future.

The trade volume at each fair is expected to top 600 million yuan (US$75 million) in 2010.

Turnover at this year's fair, which ran for four days in August, was about 550 million yuan (US$69 million), according to Fu.