SHANGHAI, May 25 -- Importation of fine art will be made easier as the China (Shanghai) Pilot Free Trade Zone (FTZ) on Monday announced deregulation.
Importers in the FTZ will no longer need the China Compulsory Certificate (CCC) to import works listed in the CCC catalogue, according to a statement from the Shanghai Entry-Exit Inspection and Quarantine Bureau.
China is the world's second largest art market with a trading volume of more than 6 billion U.S. dollars in 2014. Many imported art works have found themselves stranded at customs as without the CCC.
The CCC is a compulsory safety mark for many products imported, sold or used in China.
Since the launch of the Shanghai FTZ in 2013, China has used it to test a number of new policies including negative list management of foreign investment, preferential trade and financial policies, and opening up more industries to foreign investors.
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