China's art market forecast

Categories:Company news
Author:
Origin:
Time of issue:2019-08-20 16:26

(Summary description)
The slowdown of China's macroeconomic development and the economic slowdown also have an external impact on the art market. The target of domestic GDP in 2014 is 7.5%, but the final figure may still be slightly lower than this target. 7.5% is already the second lowest GDP growth rate in China since the reform and opening up. The slowdown of the macro-economy will directly affect the willingness to consume and investment of each individual and the main body of the household. This impact is mainly on the consumption and investment confidence of individuals and households. The art market is a confidence market. Buyers' confidence determines whether they will enter the market, and it also affects the amount of funds flowing into the art market. At present, most of the individuals and families entering the art market for consumption, investment and collection belong to the "high net worth group" or the emerging middle class. The economic slowdown will make the "high net worth group" and the middle class face the problem of art As a personal or family investment choice, products will be more cautious and will shake the confidence of some people who are willing to intervene in the art market. The economic slowdown, especially in the face of possible "deflation", is not good news for the development of the art market.

China's art market forecast

Categories:Company news
Author:
Origin:
Time of issue:2019-08-20 16:26
Views:2

The slowdown of China's macroeconomic development and the economic slowdown also have an external impact on the art market. The target of domestic GDP in 2014 is 7.5%, but the final figure may still be slightly lower than this target. 7.5% is already the second lowest GDP growth rate in China since the reform and opening up. The slowdown of the macro-economy will directly affect the willingness to consume and investment of each individual and the main body of the household. This impact is mainly on the consumption and investment confidence of individuals and households. The art market is a confidence market. Buyers' confidence determines whether they will enter the market, and it also affects the amount of funds flowing into the art market. At present, most of the individuals and families entering the art market for consumption, investment and collection belong to the "high net worth group" or the emerging middle class. The economic slowdown will make the "high net worth group" and the middle class face the problem of art As a personal or family investment choice, products will be more cautious and will shake the confidence of some people who are willing to intervene in the art market. The economic slowdown, especially in the face of possible "deflation", is not good news for the development of the art market.

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