China’s art market stabilized in 2025 at $8.5 billion and a 14% global share according to the Art Basel and UBS report, placing it firmly third behind the US (44%) and UK (18%) after a sharp 31% contraction in 2024 that cost it second place. Persistent domestic headwinds, including the real estate downturn and subdued consumer confidence, limited growth to just over 1%, while the UK posted a 2% rise and the overall market expanded 4%. Mainland auctions showed modest resilience through higher-quality consignments, but Hong Kong’s more international segment faced contraction. With no clear rebound trajectory entering late 2026 and the UK maintaining a comfortable lead, traders see little scope for China to close the gap by year-end.