Hong Kong has established itself as a well-known international art hub over the years by force of its strategic location, vibrant cultural scenes, and thriving art markets. It opens its arms to attract artists, collectors, galleries, institutions, and art lovers from around the world. This has been its mission all along, and so far, it has worked the trick.

Location

Hong Kong’s location at the crossroads of East and West makes it a convenient gateway to global art markets. Its proximity to the Chinese mainland and its easy accessibility to other countries have made it an ideal hub for connecting with artists, collectors, and art professionals from all regions.

On one Saturday in May, the same venue that hosted the city’s flagship Art Basel show was staging the 11th Affordable Art Fair. Visitors filled the white cubicles inside the Convention and Exhibition Centre in Wan Chai where all pieces were priced at under HK$100,000 ($12,800). Ninety-seven galleries participated in the event this year, ranging from local dealers to those from the Chinese mainland, Japan, Singapore, and Britain.

Art fairs and events

Hong Kong hosts several major art fairs and events that draw international attention. Art Basel Hong Kong, one of the most prestigious art fairs in the world, attracts leading galleries, artists, and collectors. Other notable events include Art Central, Fine Art Asia, and the Hong Kong International Art Fair. These events provide a platform for showcasing artworks, networking, and fostering collaborations.

Established in 1993, French May is one of the largest cultural events in Asia. With more than 100 programs presented across two months, it has become an iconic part of Hong Kong’s cultural scene, reaching over 200,000 visitors each year. The objectives of French May are to touch everything, to be everywhere and for everyone.

French May Cinema Programme, as part of the French May Art Festival in Hong Kong, is for all lovers of the arts in all their forms, from painting to gastronomy, literature, theater, and music. This program enables art lovers in Hong Kong and all over the world to rediscover the famous French artists who have shaped France’s beautiful heritage.

On top of that, Alliance Francaise de Hong Kong invited several celebrities (including actors, actresses, authors, directors and photographers) to Hong Kong to introduce the movies showing in town, and to take part in related activities to promote French culture to Hong Kong residents.

About 1,000 people were invited to the International Cultural Summit on March 25-26, with officials from 10 of the world’s top 40 museums and arts hubs. The summit showcased the city’s role as an East-meets-West center for international cultural exchanges.

Galleries and institutions

Hong Kong is home to a diverse range of galleries, including branches of renowned international galleries as well as local ones. Hauser & Wirth, and White Cube are among the prominent galleries that have set up spaces in Hong Kong. The city also hosts world-class institutions like the Asia Society Hong Kong Centre and the M+ museum, which focus on contemporary art and cultural exchanges.

Art Basel had 242 galleries from 40 countries and territories exhibiting, a 37 percent increase on 2023. Each show held by Art Basel is defined by its host city and region. In Hong Kong, more than two-thirds of participating galleries have exhibition spaces across the Aisa-Pacific, while the city itself is represented by 29 galleries. Art Basel together with its main satellite fair, Art Centre, and other events are part of Art March.

Art Basel, Asia’s biggest art fair, brought 242 galleries to the city from 177 in 2023 and 130 the year before.

Art market and auctions

Hong Kong has become a major center for art auctions, attracting collectors and investors from around the world. International auction houses like Sotheby’s, Christie’s, and Phillips hold regular sales in Hong Kong, featuring a wide range of artworks, including Asian art, contemporary art, and Chinese contemporary ink art. These auctions have helped establish Hong Kong as a significant marketplace for art.

Cultural infrastructure

Hong Kong’s cultural infrastructure has expanded in recent years. The West Kowloon Cultural District, an ambitious project, aims to create a world-class arts and culture hub. It houses the M+ museum, performance venues, and public spaces dedicated to the arts. This development reinforces Hong Kong’s commitment to fostering creativity and cultural exchange.

Supportive policies and initiatives

The Hong Kong Special Administrative Region government has implemented various policies and initiatives to support the art industry, including tax incentives for the art market, grants for art projects, etc. Such support encourages the growth of the art sector and attracts international art professionals to the city. The best way to promote Hong Kong is to leverage its unique strengths — its super connections to all parts of the world.

The Hong Kong spirit is often evoked and its openness to the outside world is very much a part of it. It is a key component of the metropolis’ intangible asset that enhances Hong Kong’s role as a thriving international art hub. However, given our limited resources, all initiatives should take into account the principle of cost-effectiveness while showcasing the city’s cultural status on a global stage. We should learn from the Palace Museum in Beijing, which is making a profit while contributing to international cultural activities.

The author is the former head of financial management (general manager) of Bank of China (HK) Ltd, and director and deputy general manager of Nanyang Commercial Bank Ltd.

The views do not necessarily reflect those of China Daily.