CUI RUZHUO, 76, TOPS HURUN CHINA ART LIST FOR 6^TH YEAR IN A ROW WITH SALES AT AUCTION OF US$49MN. CUMULATIVE SALES IS US$657MN IN 6 YEARS

LIU YE, 56, SHOT UP 11 PLACES TO 2^ND AFTER A FIVE-FOLD JUMP IN HIS SALES AT AUCTION US$48MN; HUANG JIANNAN, 68, BROKE INTO TOP 3 FOR FIRST TIME.

ZHOU CHUNYA, 65, 4^TH WITH US$24MN, MAKING TOP 4 NOW FOR THREE CONSECUTIVE YEARS

FAN ZENG, 82, 5^TH WITH US$23MN. FAN MADE TOP 5 FOR 11 CONSECUTIVE YEARS

LENG JUN, 57, BROKE INTO TOP 10 FOR FIRST TIME WITH US$17MN, RANKED 6^TH

TOTAL TURNOVER OF TOP 100 CHINESE LIVING ARTISTS DOWN TO US$429MN, LOWEST IN NEARLY A DECADE

52 ARTISTS SAW SALES OF THEIR WORK DROP. 48 ARTISTS SAW SALES OF THEIR WORKS GO UP, INCLUDING 28 NEW FACES THIS YEAR

BEIJING PREFERED RESIDENCE OF CHINA’S ARTISTS, FOR A WHOPPING 60%, UP 8 ARTISTS ON LAST YEAR

THE NUMBER OF ARTISTS AGED 50 OR UNDER ROSE FOR THE FIRST TIME AFTER FOUR YEARS OF DECLINE, INCREASING BY 5 TO 11

THE LIST OF FEMALE ARTISTS INCREASED BY 2 TO 5, WITH THE MOST SUCCESSFUL FEMALE ARTIST 98-YEAR-OLD CHEN PEIQIU. TWO FEMALE ARTISTS BORN IN THE 1970S MADE THE LIST FOR THE FIRST TIME: DUAN JIANYU AND LIANG YUANWEI. AT 34, MI QIAOMING IS STILL THE YOUNGEST ARTIST ON THE HURUN CHINA ART LIST

A TOTAL OF 265 ARTISTS HAVE BEEN ON THE LIST IN THE PAST 13 YEARS, 25 ARTISTS HAVE BEEN ON THE LIST IN THE PAST DECADE IN A ROW. THIS YEAR THERE WERE 8 ARTISTS WHO MADE THE HURUN CHINA ART LIST FOR THE FIRST TIME EVER

WORLD AUTHORITY ON WEALTH CREATION HURUN RESEARCH INSTITUTE LAUNCHED THE HURUN CHINA ART LIST 2020

l  Cui Ruzhuo, 76, topped the Hurun China Art List for the 6^th year in a row with a turnover of US$49mn, down 62% from US$132mn last year. A 2019 piece by Cui became the most expensive work by living artists last year, sold by Beijing Poly for US$20mn. Among the Top 10 most expensive works by living artists last year, two were made by Cui Ruzhuo. Cui has been listed in the Hurun China Art List for 11 consecutive years, and has been in the Top 10 for 10 years.

l  Liu Ye, 56, up 11 places to with US$48mn, and returning to the Top 10 after 10 years. Liu is also the artist with the largest increase in turnover on this year's list, up 416% from last year.

l  Huang Jiannan, 68, broke into the Top 3 for the first time with US$29mn, up 3%. Huang has been on the Hurun China Art List for the seven years in a row, rising from 33^rd place to 3^rd this year.

l  It’s been a bad year for contemporary Chinese art. The average turnover of the Top 50 was US$79.6mn, along with 2010, the lowest since the financial crisis. The average turnover in the Top 100 was a third of the 2012 peak, and the threshold for entry is a tenth of what it was then.

l  The turnover of 48 artists increased, including 20 artists who returned to the list and 8 artists who made the list for the first time. The turnover of 52 artists decreased.

l  Chinese ink painters accounted for 49%, down on last year, whilst oil painters accounted for 45%, up on last year. Among them, 4 have mastery in Chinese ink and oil: Huang Jiannan, Zhu Yaokui, Liu Guosong and Ai Xuan.

l  4 sculptors made the list, 2 more than last year. 57-year-old Li Zhen ranked 16^th on the list with a turnover of US$5.7mn, an increase of 25 places from last year, and is the only sculptor to enter the Top 20. The other three sculptors are: 82-year-old Zhu Ming (US$4mn, down 8%; ranked 25^th, up 9 places from last year), 58-year-old Zhan Wang (US$0.45mn, ranked 85^th) and the 64-year-old Sui Jianguo who made the list for the first time (US$0.34mn, ranked 95^th). Only 8 sculptors have made the list in the past 13 years.

l  8 new faces, led by 37-year-old Sichuan painter Hao Liang, who ranked 38^th with US$2.4mn. Wang Jianwei, 62, also from Sichuan, was the first image artist on the list, ranked 83^rd with US$0.47mn.

l  Youngest artists. 11 under the age of 50, 5 more than last year. Oil painter Mi Qiaoming, 34, remains the youngest artist on the list, ranked 45^th with US$1.8mn. 5 young artists made the Top 50, the other 4 respectively: Chen Zhongzhou, 42, the only post-70s artist in the Top 20; Ren Zhong, 44, ranked 29^th; and Hao Liang, 37, ranked 38^th who is listed on the Hurun China Art List for the first time.

l  4 above 90 years, as many as last year. The oldest is Sun Qifeng aged 100, sales with US$3mn ranked 31^st. The other three are; Huang Yongyu, 96, ranked 17^th; Chen Peiqiu, 98, ranked 19^th; and Ouyang Zhongshi, ranked 57^th.

l  The average age has fallen after rising for three years in a row, to 66, two years younger than last year.

l  For 13 years on the Hurun China Art List , Beijing has been the city where most artists were born and live. Among the Top 100 artists on the list, those who currently live in Beijing are 8 more than last year, and absolutely ahead of other cities with 59 artists; Guangdong has 8 remaining 2^nd, 2 less than last year; Jiangsu has 7 people remaining 3^rd, 1 less than last year; Tianjin, which ranked fifth last year, added 1 this year and ranked 4^th with 5; Shanghai is tied for 4^th, with the number remaining the same as last year; Yunnan and Hubei newly enter the list this year, with 1 each. Rupert Hoogewerf said: "Beijing is the city with the most wealth on our Hurun Rich List. There are 286 entrepreneurs on the list. Beijing is also the city with the most artists on the Hurun China Art List . Perhaps collectors attract artists."

l  Place of birth. Beijing ranked 1^st with 13 artists, as many as last year; Jiangsu ranked 2^nd with 10, 1 more than last year; Shandong up 1 place to the 3^rd with 9 artiest, 2 more than last year; Guangdong down to the 6^th with 6^, 3 less than Last year. Shanxi is listed on the list for the first time, with 1.

l  Female artists. 5 female artists on the list, 2 more than last year. The most successful female artist is still the 98-year-old Chen Peiqiu, with a turnover of US$4.6mn, an increase of 48% over last year, and the ranking rose from 45^th to 19^th. And then is Mi Qiaoming, 34, ranked 45^th with US$1.8mn. Followed is Xu Lele, 65 ranked 52^nd with US$1.4mn. next are Duan Jianyu and Liang Yuanwei, ranked 53^rd and 68^th with US$1.3mn and US$0.8mn, respectively. A total of 14 female artists have made the Hurun China Art List in the past 13 years.

l  The China Central Academy of Fine Arts has maintained its status as China's top art institution for 13 years in a row. Of the artists on this year's list, 27 have graduated or studied there, 6 more than last year. Next is Nanjing University of the Arts, with 7 artists on the list. Again, Sichuan Fine Arts Institute has 6 artists on the list.

l  Among the auction houses that sold the Top 10 most expensive works by living artists, Beijing Poly was the biggest winner, and 3 works were auctioned with a total turnover of US$33mn; China Guardian also auctioned 3 works, with a total turnover of US$26mn.

l  52 artists have been listed on the Hurun China Art List more than 7 times (including 7 times), including 25 artists who have been on the list for the past ten years in a row. They are: Cui Ruzhuo, Liu Ye, Zhou Chunya, Fan Zeng, Zeng Fanzhi, Zhang Xiaogang, Jin Shangyi,  Zhou Yansheng, Liu Wei, Huang Yongyu, Chen Peiqiu, Fang Chuxiong, Wang Mingming, Zhu Ming, Fang Lijun, Luo Zhongli, Wang Ziwu, Shi Guoliang, He Jiaying, Lin Yong, Jia Youfu, Wang Yidong, Shen Peng, Liu Dawei and Ai Xuan.

l  Of the Hurun Best-Selling Chinese Artists, a list of the Top 100 artists from Chinese history (featuring both living and dead Chinese artists), Zhang Daqian ranked 1^st with US$245mn. Zhao Wuji ranked 2^nd with US$197mn. Qi Baishi dropped to the 3rd with US$196mn. In terms of art categories, 22 oil painting artists made the list, the same number as last year. This is the 8^th consecutive year of the Hurun Best-Selling Chinese Artists.

l  China has many families now with the ability to collect. According to the latest Hurun Wealth Report, by the end of 2018, the number of "ultra-high net worth families" with assets of 100 million yuan in mainland China reached 105,000, among which the number of "ultra-high net worth families" with investable assets of 100 million yuan reached 62,000. According to the latest Hurun Rich List, 1819 Chinese entrepreneurs with wealth of over 2 billion yuan (equivalent to just under US$300mn) have made it onto the list. Greater China leads the US for the fifth year in a row with 790 billionaires, according to the latest Hurun Global Rich List. Of these, 669 are from the Chinese mainland, 70 from Hong Kong and 51 from Taiwan. For the fifth year in a row, Beijing has overtaken New York as the "billionaire capital of the world"

The Hurun Research Institute launched the Hurun Most Successful Chinese Living Artists 2020 this June, a ranking of the top 100 Chinese artists alive today based on the sales of their works at public auction in the year ending 31 December 2019. CAFA National Institute of Art and Cultural Policy provided the data. This is the thirteenth consecutive year of the Hurun China Art List .

In 2019, the volume of China's art market shrank and prices were flat, with a low transaction rate. Specifically, 363,600 works went up for auction, but only 161,500 were sold. The transaction value was CNY$49.2bn, with a transaction rate of 44%, which was the lowest since 2010 (according to Art Market Monitor of ARTRON). Looking at the Hurun China Art List 2020, the total turnover, the average turnover, the entry threshold and the number of artists whose annual turnover exceeds CNY$100mn all showed a downward trend.

Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report, said: “In the past 13 years, only 265 artists have made the Hurun China Art List , of which 24 have since passed away. This should give readers confidence that significantly all of the best living artists in China make the list sooner or later.”

“It’s been a bad year for the China contemporary art market, with the cut-off to make our list to its lowest since records began in 2008.”

This is an English language summary of the full Chinese press release which can be found at www.hurun.net. Please note percentage changes of the sales totals is using the Chinese Yuan figures comparing this year and last. For media inquiries please contact our public relations team whose contact details can be found at the end of this report.

Hurun Most Successful Chinese Living Artists 2020

4 of the Top 10 newly entered the list. Among them, Liu Ye, a 56-year-old oil painter who has been on the list for the thirteenth consecutive year, entered the Top 10 again after 10 years with US$48mn. The average increase of the Top 10 is 42%. The average age is 67 years, which is 1 year older than the overall list, and 2 years younger than the average age of the Top 10 last year. There are 8 oil painters in the Top 10, twice as many as last year. 8 of the Top 10 live in Beijing, while the other two live in Sichuan and Hubei.

Table: Hurun China Art List 2020– Top 10

Source: Hurun Research Institute with data provided by CAFA National Institute of Art and Cultural Policy

↑ Rank increase yoy  ↓ Rank decrease yoy  - No Rank change yoy  * New to Top 10

Cui Ruzhuo, 76, topped the Hurun China Art List for the 6^th year in a row with a turnover of US$49mn, down 62% from US$132mn last year. A 2019 piece by Cui became the most expensive work by living artists last year, sold by Beijing Poly, selling for US$20mn. Among the Top 10 most expensive works by living artists last year, two were made by Cui Ruzhuo. Cui has been listed in the Hurun China Art List for 11 consecutive years, and has been in the Top 10 for 10 years.

Liu Ye, 56 ranked 2^nd with US$48mn, up 11 places from last year and entering the Top 10 again after 10 years. Liu is also the artist with the largest increase in turnover on this year's list, increase 416% from last year.

Huang Jiannan, 68, entered the Top 3 for the first time with US$29mn (up 3%). Huang has been on the Hurun China Art List for the seventh year in a row, rising from 33^rd place to 3^rd this year.

Zhou Chunya, 65, down 47% to US$24mn and down 2 places ranked 4^th. Zhou has been listed in the Hurun China Art List for thirteen consecutive years and was ranked 1^st in 2013.

Fan Zeng, 82, down 33% ranked 5^th with US$23mn. Fan has been on the Hurun China Art List for 13 consecutive years, and topped the list in 2011 and 2012.

Leng Jun, 57, returned to the Hurun China Art List after one year, ranked 6^th with US$17mn.

Zeng Fanzhi, 56, down 35% and ranked 7 with US$16mn. Zeng has been listed on the Hurun China Art List for 13 consecutive years. He ranked 1^st in 2014 and ranked 2^nd five times.

Zhang Xiaogang, 62, down 33% and ranked 8^th with US$13mn. Zhang has been listed on the Hurun China Art List for 13 consecutive years, and topped the list in 2009.

Zhu Yaokui, 88, increased 46% ranked 9^th with US$12mn. Last year's most expensive painting was sold by Beijing Council for US$5.8mn.

Liu Xiaodong, 57, increased 119% to US$10mn and ranked 10^th, up 23 places. This is the 12^th time Liu has been listed on the Hurun China Art List and he return to the Top 10 after seven years.

Top 10 most expensive works by living artists

Among the Top 10 most expensive works by living artists, two were made by Cui Ruzhuo and Leng Jun, and the other 6 were by Jin Shangyi, Zhou Yansheng, Liu Ye, Huang Jiannan, Liu Xiaodong, and Zhu Yaokui.

Only one living artist's work was sold for over CNY￥100mn last year. One of Cui Ruzhuo's work which made in 2019 was sold by Beijing Poly for US$20mn. The most expensive work of the previous year was also Cui Ruzhuo's work of 2017.

Among the auction houses that sold the Top 10 most expensive works by living artists, Beijing Poly was the biggest winner, and 3 works were auctioned with a total turnover of US$33mn; China Guardian also auctioned 3 works, with a total turnover of US$26mn; The other 4 works were produced by Holly’s, Sotheby’s, Shanghai Council and Beijing Council.

Among the top 10 most expensive works by living artists, 3 are Chinese Ink and 7 are oil.

TABLE: Youngest artists of the Hurun China Art List 2020

Source: Hurun Research Institute with data provided by CAFA National Institute of Art and Cultural Policy

Beijing is the city where most artists were born and live 

Source: Hurun China Art List 2020

↑ Rank increase yoy  ↓ Rank decrease yoy  - No Rank change yoy  * New Entry

TABLE: Fastest-Growing Artists from the Hurun China Art List 2020

Source: Hurun Research Institute with data provided by CAFA National Institute of Art and Cultural Policy

52 artists have been listed on the Hurun China Art List more than 7 times (including 7 times), including 25 artists who have been on the list for the past ten years in a row.

52 artists have been listed on the Hurun China Art List seven or more times, led by 25 artists who have been on the list for the past ten years in a row. They are: Cui Ruzhuo, Liu Ye, Zhou Chunya, Fan Zeng, Zeng Fanzhi, Zhang Xiaogang, Jin Shangyi,  Zhou Yansheng, Liu Wei, Huang Yongyu, Chen Peiqiu, Fang Chuxiong, Wang Mingming, Zhu Ming, Fang Lijun, Luo Zhongli, Wang Ziwu, Shi Guoliang, He Jiaying, Lin Yong, Jia Youfu, Wang Yidong, Shen Peng, Liu Dawei and Ai Xuan. The other 27 artists were: Huang Jiannan, Leng Jun, Huo Chunyang, Shi Qi, Liu Guosong, Ren Zhong, Sun Qifeng, Shang Yang, Chen Danqing, He Duoling, Cai Guoqiang, Tian Liming, Fan Yang, Xu Lele, Ding Yi, Wang Yong, Xu Bing, Feng Dazhong, Mao Yan, Xu Qinsong, Yu Jigao, Feng Yuan, Tang Yongli, Yin Chaoyang, Chen Yongqiang, Jiang Hongwei and Xue Liang.

Hurun China Art List annual list data changes

Source: Hurun Research

Hurun China Art List 2020, Most Successful Chinese Living Artists

Source: Hurun Research Institute with data provided by CAFA National Institute of Art and Cultural Policy

Introduction to CAFA National Institute of Art and Cultural Policy

The CAFA National Institute of Art and Cultural Policy was established on May 25, 2009. It is a national-level art and cultural policy research institution jointly established by the Ministry of Culture of the People ’s Republic of China and the Central Academy of Fine Arts, and belongs to the Central Academy of Fine Arts. The Ministry of Culture provides project and financial support, and the Institute undertakes art and cultural policy projects entrusted by the Publicity Department of the Communist Party of China, China Federation of Literary and Art Circles, as well as provinces, cities, and autonomous regions. At present, the Institute has two base brands, namely the "National Art Market Research Base" awarded by the Ministry of Culture and the "Chinese Literature and Art Public Opinion Research Base" awarded by the China Federation of Literary and Art Circles.

The main research functions and projects of the Institute include: preliminary research on national art and cultural policies and regulations; research on the global art market; research on the implementation of arts and cultural industries projects; planning and implementation of large-scale projects of national foreign cultural strategy; research on art industrial parks; promoting the research of the Chinese Art Finance Research Center; research on the improvement of currency image and design; research on public art and urban development; research on art licensing and art derivatives industry; research and training on museum and art museum management; research on Chinese art evaluation system, communication system and funding system.

Founded in 2015, Hurun Art Foundation is a media platform which focus on Chinese contemporary art. Depending on the combination of Hurun Report and Hurun China Art List , we provide a full range of promotion channels for contemporary artists, including magazine, website and exhibitions. We have discovered that contemporary artists are the most promising ones among all types of artists in China, in terms of their active thoughts and broad vision. They also are very diligent, and they have great passion about art. We are responsible and feel obliged to build a wider platform, in order to help promote them and their outstanding works. For this purpose, we interviewed Chinese artists who are active in the United States and Switzerland; we signed long-term and strategic cooperation agreement with artists in Beijing, Shanghai, Guangzhou and Chengdu; we keep promoting one or two contemporary artists every month on Hurun Report Magazine by analyzing their works and providing some insights. Our purpose is to help the wealth elites of China to learn more about the value of Chinese contemporary art, thus we connect art and wealth.

About Hurun Report Inc.

Promoting Entrepreneurship through Quality Lists and Research

Hurun Report generated 300 million views globally each month on average last year, through putting out quality lists and research.

Established in 1999, Hurun Report Inc. has grown into a leading research platform based in Shanghai and Mumbai, best-known for its China and India rich lists, and with 150 employees today.

Hurun Research Institute ‘World’s Largest Rich List Provider’

These past twenty years have seen the fastest wealth creating period in the history of the world.

Other lists Hurun puts out include: the Hurun Richest Self-Made Women in the World has been highlighting for over ten years the fact that over 70% of the world’s most successful women in business herald from China, ie Chinese are completely dominant in the world of women in business. This has changed the way the world looks at Chinese women in business.

The Hurun China Philanthropy List ranks the most generous individuals in China and is now in its 15th anniversary.  With no inheritance tax, Chinese give much more generously than many have previously understood.

Two recent lists with an impact include the Hurun China Unicorn Index, ranking the most dynamic businesses with a valuation of US$1bn or more in China; and the Hurun Most Successful University Alumni.

In India, Hurun Research has launched the Hurun India Rich List for the seventh time last year, and has an active events business there.

‘World Authority on the Chinese High Net Worth Individual’

Recent research partners include financial institutions (PingAn, Bank of China, Taikang Life, Minsheng, Citic), local government (Shanghai, Changbaishan) and Global 500 multinationals (Marriott, Country Garden, Agile, Audi, Volvo).

Three breakthrough lists this past year: Hurun Good Doctors’ List, a ranking of the 9500 most respected doctors in China, broken down by region and speciality; Hurun Best International Schools List; and Hurun Creative Works Intellectual Property List, in Search of the Harry Potter of China, ranking those online novels with the most valuable IPs.

The Hurun China Art List ranks the top artists alive today in China for the 12th year and has become a household name amongst artists.

Media and Events ‘The Hurun brand gets 300 million views a month in China’

The Hurun brand has become one of the few media brands to become a household name across China and India.

Hurun Media monetizes 2 million views a month in China, through its wechat, weibo, website and legacy magazine.

Recent themed events include blockchain, fintech and 30 under 30, with industry-respected awards. We deliver 100+ events a year in China, with 200 entrepreneurs from the Hurun China Rich List attending.

Hurun Report does events across the world.  In the last year, Hurun Report has held events in Toronto, New York, LA, London, Paris, Istanbul, Luxembourg, Sydney and Singapore. Hurun Report’s mission is to create the world's largest platform of China gatekeepers.

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Hurun Investments has a portfolio of 20 companies, with investments into tech, media, design, education as well as a vintage car race and a tailor.