The latest Artprice report updates China's growing strength in the global art market. China's share of art auction sales is 41.4% of sales ahead of the US (26%) and the UK (19.4%). Of the ten top-selling artists at auction, six are Chinese, says the report. In 2011 Chinese artist Zhang Daqian ousted Picasso to take the No.1 position on the world auction market, generating $506m in auction sales, followed by compatriot Qi Baishi on $445.1m.
Image: Lotus and Mandarin ducks by Zhang Daqian which fetched HK191m ($24.5m) at Sotheby's in Hong Kong in May 2011
