Chinese Mainland Auction Powerhouse Fast Tracks Global Expansion via Hong Kong

Sungari is a pioneering auction house founded in Beijing in 1995, specialising in high-end Chinese antiques, ceramics, and paintings. The General Manager of Sungari, Xue Shiqing believes it was the right timing for the Chinese Mainland auction house to establish a presence in Hong Kong, and accordingly opened Sungari Hong Kong in October 2024. For Sungari, the region is more than a global financial centre and an international art hub anchored by Art Basel. “In the global art scene, the city is a cultural gateway that connects and impacts Chinese collector communities across the Asia-Pacific region and Europe,” noted Xue.

Expanded Scope – Increased Opportunities

Sungari Hong Kong is significantly expanding its business scope, by leveraging Hong Kong’s free port status, minimal restrictions and low and simple tax system. As Hong Kong is home to top auction houses including Sotheby’s, Christie’s, Phillips and Bonhams, Sungari can access a greater pool of sophisticated collectors and buyers in the region. Sungari Hong Kong is effectively engaging them by boasting a local workforce fluent in English and Cantonese.

Harnessing Hong Kong’s Experience for Global Growth

Xue acknowledged that adapting to Hong Kong involved a learning curve, as the city’s cultural diversity necessitated blending Chinese heritage with Western business practices seamlessly. Xue added that Hong Kong’s comprehensive compliance requirements enabled Sungari to align progressively and seamlessly with international practices adopted by foreign firms. “We plan to pass such best practices back to our Beijing headquarters, so that our Chinese Mainland team can benefit from Hong Kong’s advanced experience in management and compliance,” said Xue.

Hong Kong’s world-class infrastructure, ease of access, and established world-class art logistics ecosystem provides significant advantages for them and their clients. The advantageous policies such as its low-tax regime, local government support have also been essential to Sungari’s successful expansion — such as practical assistance from InvestHK. The investment promotion agency supported Sungari’s establishment in Hong Kong by connecting it to local partners and service providers; and providing advice on visa application, talent recruitment, and digital marketing, allowing Sungari to hit the ground running.