It’s a display of artwork worth millions of dollars. Heavyweight galleries come in from all over the world, to meet with art dealers and collectors in Asia.

CGTN’s Mao Dan reports.

Art Basel returned to Hong Kong for a sixth annual presentation, marking a fast transformation. It taps into the huge potential of Asia’s art collection scene.

The world-renowned art fair is also seen as a platform of encouragement and learning. This year’s fair experienced growing participation and interest, suggesting that just maybe, the center of gravity in the art world in shifting towards Asia. 

According to an annual art market report, Asia accounts for 23 percent of global art sales, and 15-percent of private dealer sales. Those numbers are largely the result of a surging demand in China. This growing market also bears the hope of greater exposure for regional art forms.