Young Chinese jet set shop at Hong Kong`s Art Basel
(Artdaily.org)

Huang Xiaoshuai and his wife last year splashed out $70,000 for a large painting of fish by Oscar-winning actor Adrien Brody -- part of a growing clique of young, affluent Chinese art enthusiasts building their own high-end collections. The picture now hangs in their Shanghai home and the couple, along with other mainland collectors, have flown in to attend VIP events at this week`s Art Basel in Hong Kong where they are hoping to indulge their taste for contemporary Asian and European art. Each year Huang and Wei Mengyuan set aside $1.5 million to spend on art -- half from Huang`s salary and the rest from family funds. Huang, an investment banker, says he and his wife first got into collecting when they were deciding how to decorate their new home. `We have friends who deal art. They gave me some advice (on how) to buy some paintings or sculptures to put in our house,` says Huang.