Last year, auction sales for cultural relics were 626 billion yuan

Vice Minister of Commerce Jiang Zengwei on the 8th at the national auction industry work conference said that last year China's total auction turnover was 626.07 billion yuan***, and the next step will be organized by the Ministry of Commerce to carry out cultural relics auctions.

Jiang Zengwei stated that as of September 2012, there were a total of 5,781 auction enterprises in China with a total registered capital of more than 200 billion ***, a total of 10,444 registered auctioneers nationwide, and 55,000 employees across the industry. In 2011, the national auction turnover was 626.07 billion yuan***, an increase of 88% over the "Eleventh Five-Year Plan" period. Since 2001, the average annual operating scale has increased by more than 15%.

Jiang Zengwei pointed out that the next phase of business administration departments should focus on doing a variety of tasks, including organizing and carrying out special rectification activities for auctions of cultural objects and art; improving industry access and withdrawal mechanisms; exploring agricultural product auctions and steadily advancing online auctions.