The Chinese government is considering regulation of the country’s burgeoning but problematic art market.
The state-owned newspaper Legal
Daily reported the findings of September's Beijing
Culture and Creative Industry Development Forum, where Beijing
Municipal Bureau of Culture deputy director Guan Yu announced the
crackdown on what it calls the "three fakes" in the current art
market: fake works, fake sales, and fake auctions.
In addition to the publication of a code of
good practice for China's auctioneers, the government outlined the
need for a registration scheme to protect contemporary artists from
fakes and new methods of credit management.
Both were issues, said the Bureau of Culture, that had
"seriously damaged the interests of investors and the reputation of
Chinese art in the international market".
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