The fair showcased exceptional artworks across different mediums, including painting, sculpture, and photography, as well as new experimentation in digital and blockchain art, in collaboration with over 160 of the world's leading galleries, including 24 galleries with spaces in the Chinese mainland, according to the organizer.

"Collectors from Southeast Asia highly recognize Chinese contemporary art. This is an important opportunity for us to enter the market, and we recorded good sales at the fair," said Laura Shao, director of international development for Hive Center for Contemporary Art based in Beijing.

"We had successful transactions with new buyers from Southeast Asia countries like Indonesia and Thailand, and the sales exceeded our expectations," said Sun Qidong, exhibition director for Shanghai's MadeIn Gallery.

"The fair attracts a great many visitors, and this is a window for them to learn the development of Chinese contemporary art," Sun added.

The five-day art fair received over 40,000 visitors as of Sunday, according to the organizer.