Cheung Kong Graduate School of Business Professor Releases the 2023 Annual MM Chinese Art Indices

The newly added individual artist price index of Zao Wou-Ki shows that the sales volume of the Sino-French artist's work at three major auction houses in the 21^st century totaled USD1.58 billion, ranking him sixth among contemporary artists. Affected by COVID-19, Zao's transaction volume decreased from USD 190 million in 2019 to USD 30 million in 2023. However, with a compound annual growth of 11.9%, Zou's works are expected to grow steadily in the long term.

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