China auction market remains off limits

Despite new rules opening China's auction market to foreign auctioneers, major international houses said they remained blocked from trading in the most promising business sector, the trade in Chinese antiques, China Daily reported. Under new rules introduced on January 1, foreign companies are allowed to hold auctions on the Chinese mainland. However, cultural protection regulations barring foreigners from dealing in antique works or exporting historical artefacts remain in effect, the daily said.