An opening exhibition at Art Tower in Shanghai showcases 100 fine pieces of thangka paintings from the Tibet autonomous region. CHINA DAILY

The second Shanghai International Artwork Trade Month kicked off at the new Art Tower on the West Bund in Xuhui district on Oct 16.

More than 100 art fairs and other trading events are expected to take place during the month, including three large art fairs, and important auction previews and events by Christies and Rongbaozhai.

More than 50 auctions will take place during the month, and more than 50 galleries will present new exhibitions all over the city.

Launched in 2019, the SIATM is aimed at helping Shanghai develop into a global center for art trade and cultural industries, says Bao Bingzhang, Party secretary of Xuhui district.

The inaugural edition of SIATM achieved more than 10 billion yuan ($1.5 billion) in sales revenue. This year, with the COVID-19 pandemic forcing most of the art fairs around the world to be canceled, Shanghai, with its industry volume, official support and development strategies, has attracted wide attention from the international art world, Bao says.

Although there are still restrictions on international travel, the seventh installment of the West Bund Art & Design Expo, which will take place from Nov 11 to 15, will receive more than 100 galleries and institutions from 17 countries, according to the event organizers.