In April of 2008, the Schoeni Gallery in Hong Kong had a month-long exhibition of Banksy's artwork, which was meant to spark interest from Chinese collectors. It provoked plenty of interest from ordinary Chinese – hundreds of people came to the opening – but not much from collectors. "Unfortunately from a commercial perspective the show was mediocre," said Nicole Schoeni, the gallery owner, adding, "the majority of my clientèle are unable to wrap their head around the idea of paying such high fees for stencil artwork, no matter how famous the artist is."

This sentiment is commonly echoed, perhaps even more forcefully, in Mainland China. There really is no market for urban art, despite a myriad of talented artists in China that practice it. Collectors tend to stick to more conservative bets when shelling out big bucks for artwork.

Urban art burst onto the Chinese scene just a few years ago, and at first it created a spark. According to Schoeni, there were a few galleries that opened in Hong Kong focusing on street art, and it looked like the movement was gaining in popularity, but the spaces have since closed. Adam Schokora, founder and CEO of the creative publication-cum-marketing firm NeochaEDGE in Shanghai said that it street art isn't often seen in commercial imagery, either. "The time when graffiti was cool in advertising content has long past," he said.

Those who are interested in urban art are largely European expatriates living in Hong Kong or locals who have lived and studied overseas, according to Schoeni. She participates in something called Adapta Projects, which allows her to put on street art shows that she knows won't make money, while devoting her gallery to more profitable fine art endeavors. "We never hold these shows with an expectation of financial rewards. Adapta Projects is an education project that we hope will bridge the gap and misunderstanding about this movement," she explained.

What the street art movement is, though, is not clear. In western countries, street art often acts as a political outlet for young artists. But Schokora asserts that China's young adults are generally not politically motivated. Rather, they are more motivated by economics. "Young people in China know that their government, like most governments around the world, has its problems, but that without it, their country and the lives would not be nearly as enjoyable as they are now," he explained.

Schokora noted that there are street artists in China, but it is a hobby rather than a job. According to Schokora, "Many of the local street artists here are very talented graphic designers, illustrators, or painters" who make their money elsewhere in the art world. "The creative scene in different cities appreciates it, but most average folks don't understand it or even really know about it," he said.

An inquiry to Jonathan Levine Gallery revealed that the market for street art among Chinese investors shopping around New York is nonexistent. A representative for the gallery noted that though there is "tremendous international interest," in street artists the gallery represents, "we do not count very many collectors from China among our clientèle, at the moment." Jonathan Levine has a few clients from Asia, but most are Japanese.