Pace has closed its gallery in Beijing, with its founder citing political and economic tensions between the US and China among the reasons for the decision.
The outpost in the 798 Art District, which when it opened in 2008 made Pace the first US contemporary art gallery to venture into mainland China, has over the past decade showed Chinese alongside international artists. Pace will continue to show at its two galleries in Hong Kong and will keep an office and viewing room in the Chinese capital. The founder of the gallery, Arne Glimcher, told ArtNews that the escalating trade war between the United States and China, has made it 'impossible to do business in mainland China right now and it has been for a while'. Among other obstacles were the high 'luxury tax' on works of art and an authoritarian political climate which has made Chinese citizens reluctant to make conspicuous shows of wealth. Glimcher also cited as the 'final straw' the decision by President Trump to impose duty on Chinese artists and Xi Jinping’s duty on Americans coming into China.