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Chinese art market concerns raise question of regulation

05 November 2012Written by ATG Reporter

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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ATG Reporter

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