Foreign (In)Direct Investment in Chinese Contemporary Art Game: The Case Studies of Uli Sigg, Guy Ullens and beyond, 1989-2013

The boom in Chinese contemporary art is the result of China's opening to foreign investment and private entrepreneurship in 1978, and the significant contribution by the transnational art enterprises of long-term patron-investor-collectors, such as Uli Sigg and Guy Ullens, between approximately...

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Bibliographic Details
Published inThe Journal of arts management, law, and society Vol. 51; no. 5; pp. 291 - 306
Main Author Wang, Shuchen
Format Journal Article
LanguageEnglish
Published Washington Routledge 31.08.2021
Taylor & Francis Inc
Subjects
20th century
21st century
art game
art industry infrastructure
Chinese contemporary art
Chinese culture
Contemporary art
Creative industries
Cultural heritage
foreign (in)direct investment
Foreign investment
Guy Ullens
heritage process
Return on investment
Saatchi model
Sigg, Uli
Uli Sigg
Ullens, Guy
China
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Summary:The boom in Chinese contemporary art is the result of China's opening to foreign investment and private entrepreneurship in 1978, and the significant contribution by the transnational art enterprises of long-term patron-investor-collectors, such as Uli Sigg and Guy Ullens, between approximately 1989 and 2013. Through the opportunity offered by the gap between the private market mechanism and national heritage process for the "art game", these investors used a variation of the controversial "Saatchi model" to generate high ROI. A further effect has been to bring CCA onto the global stage and complete the ecosystem of the art industry, building a foundation for the art economy of post-Mao China.
ISSN:1063-2921
1930-7799
DOI:10.1080/10632921.2021.1918597