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City to build world’s biggest bonded service center for artworks in FTZ
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SHANGHAI will build the world’s largest bonded service center for art auctions, exhibitions and storage in the free trade zone in Pudong New Area, according to the city’s urban planning body.
The Shanghai International Artwork Bonded Service Center will cover 68,000 square meters. It will include a bonded warehouse, trade and auction platform, as well as evaluation and insurance services. It will be completed by early 2017.
The center will also include exhibition halls, as well as open studios and training centers for artists, said Hu Huanzhong, general manager of the Shanghai FTZ International Cultural Investment and Development Co.
The center’s 5,000-square-meter trade and exhibition area has already opened. It offers bonded storage for paintings, sculptures and other cultural products.
To ensure safety, the center will be built in accordance with the US Underwriters Laboratories standard, one of the best in the industry for fireproofing and anti-theft. It will become China’s first bonded artwork service center using the UL standard, Hu said.
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