A large number of artworks by renowned artists around the world, including Wu Guanzhong, Zhang Daqian, Pierre Bonnard and Edvard Munch, have undergone inspections at Shanghai Customs and will be exhibited at the fifth China International Import Expo (CIIE).

Last year, the new art sector at CIIE attracted wide public interest, and nine institutions successfully sold 41 works worth 760 million yuan ($105.94 million) at the expo.

This year, the municipality introduced new regulations to further facilitate the international trading of artworks, cultural relics and other collectibles.

Twelve institutions from five countries and regions will take part in the fifth CIIE and showcase 102 objects with a combined value of 1.26 billion yuan.

Jean Qian, Sotheby's managing director, China, said the company will return to the CIIE with a booth that is five times larger than last year's as it aims to showcase its commitment to the Chinese market.