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China Guardian Auctions Co., Ltd. remains a dominant player in China as the art and antique market saw significant increase in values in 2011, according to an annual national report.

It shows that in 2011, China Guardian topped the list of Chinese auction houses in terms of auction turnover, commission, corporate business tax and income tax; the company was also the largest tax-payer and boasted the highest commission percentage, a proportion of commission to sales.

The report, 2011 China Antiques & Artworks Auction Market, released by the Ministry of Commerce, the State Administration of Cultural Heritage and the China Association of Auctioneers, makes a penetrating analysis of the Chinese art and antique market.

It reveals that in 2011, about 780 sales of art and antiques were organized nationwide, with 667,720 items up for grabs. The percentage of successful bids was 55.16 percent, realizing a total of 55.3 billion yuan.

Chinese paintings and calligraphy remained the most popular category. It accounted for 66.25 percent of the domestic market, brining in 36.6 billion yuan; porcelain and jade (21.69 percent) raked in 12 billion yuan; oil paintings and contemporary art (6.84 percent) acquired 3.8 billion yuan. Rare books and manuscripts (1.2 percent) earned another 668 million yuan, and coins and stamps (1.69 percent) gained 935 million yuan.

In addition, other categories, including watches, wine and jewelry, accounted for 2.33 percent of the domestic market, and pulled in 1.3 billion yuan.

In 2011, the Chinese auction houses paid 1.46 billion yuan in taxes, with 650 million yuan in corporate income tax and 232 million yuan in business tax.

The backflow of Chinese cultural relics remained a topic that demanded serious attention in 2011. A total of 15315 items were successfully bought, costing 5.87 billion yuan. The percentage of successful bids was 81.66 percent, much higher than the average percentage of the domestic market.

Notably, the report says that an industrial convention designed for self-discipline was released last June. Endorsed by 56 auction houses, the convention focused on fair play and sustainable development in the industry.

The report also shows that the rapid development of the art and antique market had brought tangible benefits to various industrial sectors, including publishing, catering, banking and advertising.