Digital Editions
Newsletters
Subscribe
Digital Editions
Newsletters
Art market
Museums & heritage
Exhibitions
Books
Podcasts
Columns
Technology
Adventures with Van Gogh
Art market
Museums & heritage
Exhibitions
Books
Podcasts
Columns
Technology
Adventures with Van Gogh
Collectors
archive

Major Hong Kong collector, T.T. Tsui in arms for Iran link

The multi-millionnaire has family connections with a Chinese, State-run armaments company

The Art Newspaper
31 May 1997
Share

London

One of the biggest names in the field of Oriental art, multi-millionaire T.T. Tsui, has family connections with a Chinese, State-run armaments company. According to a report in the British newspaper, The Sunday Times, lawyers acting for the Hong Kong government are currently deciding whether to prosecute Rex International Development, founded in 1982 as a joint venture between Mr Tsui and the China Northern Industrial Corporation (known as Norinco), a huge arms manufacturing conglomerate. According to the British newspaper, Rex International has acted as a brokerage for Norinco’s international activities, including sales to the Middle East and the supply of steel pipes to Iran. Such pipes are suitable for use in chemical or explosive arms manufacturing processes. While Mr Tsui sold his shares in Rex in 1989, his brother is still a board director. T.T. Tsui had his own museum in Hong Kong (see p.1), housing part of his collection, but a large amount of this has recently been sold at Christie’s under the name of the Jingguantang Collection, revealed by The Art Newspaper, No.68, March 1997, p.31 to be Mr Tsui’s. The first part, mainly porcelains and jades, was sold at Christie’s Hong Kong in November 1996 for around £10 million. Part II, an eclectic mixture of archaic pieces, later ceramics, glass and furniture, was sold in New York on 20 March for $6.2 million.

CollectorsAuctionsChinaHong KongArms manufacturing
Share
Subscribe to The Art Newspaper’s digital newsletter for your daily digest of essential news, views and analysis from the international art world delivered directly to your inbox.
Newsletter sign-up
Information
About
Contact
Cookie policy
Data protection
Privacy policy
Frequently Asked Questions
Subscription T&Cs
Terms and conditions
Advertise
Sister Papers
Sponsorship policy
Follow us
Instagram
Bluesky
LinkedIn
Facebook
TikTok
YouTube
© The Art Newspaper

Related content

Collectorsarchive
1 March 1997

Major Hong Kong collector, T.T. Tsui to sell his outstanding collection

His motivations to sell remain unclear

The Art Newspaper
Lawarchive
1 February 1997

Vast exodus of art from Hong Kong due to fears of a Chinese clamp-down after the handover

Collectors fear changes to export regulations after British departure

Martin Bailey