The market for artwork and antiques in Shanghai has achieved robust growth, with its volume surpassing the 10 billion yuan ($1.39 billion) mark, local authorities said Monday.

In 2022, the trading volume of the artwork and antiques market reached 12.85 billion yuan, marking a 44 percent increase from 2019, according to Fang Shizhong, director of the Shanghai Municipal Administration of Culture and Tourism.

The total import and export value of artworks and antiques reached 10.28 billion yuan, up 61 percent from 2019, data showed.

The continuous robust growth is driven by the China International Import Expo (CIIE) and the Shanghai International Artwork Trade Week, among others, Fang noted.

The sixth edition of the CIIE this year, scheduled from Nov 5 to Nov 10, will see 19 enterprises participating in the art and antiques exhibition, with a record exhibition area.

Following the CIIE, the 5th Shanghai International Artwork Trade Week, from Nov 9 to Nov 13, will gather over 250 domestic and international art institutions, with an estimated total goods value exceeding 10 billion yuan.