It’s hard to make out what this announcement out of China really means. But many in the West have been calling for the art market to have some sort of regulation. By that, they usually mean they’re wary of the price of art. The Chinese government, however, seems to be taking some sort of steps toward policing the market with the establishment of the Beijing Imperial City Art Trading Center:

Lü Lixin, director of the Art Evaluation Committee with the Ministry of Culture, was appointed as director of the center, with all members of the 200-plus committee first-class experts enrolled in evaluating works for collectors. […] With years of work experience in the art market as a professor and an official, Lü said that art sales in China have been booming in recent years, but still face the problem of disorder. “It will eventually harm the market if there are too many imitations circling as genuine works,” he said. […]

The trading center will also incorporate various functions, such as auction houses, galleries and museums. With plans for masterpieces to be regularly on display, art lovers will be able to browse or buy at the center. Currently an exhibition of art master Li Kuchan is being held, with 60 rare pieces on show, some of which have never publicly been shown before.

Located at the center of Beijing, not far from Tiananmen Square, the two-story art-trading center covers 3,700 square meters and includes different sections for displaying, trading and education. […] Also boasting a professional art preservation area, the center will help collectors store items, as for some precious pieces the requirements of proper storage spaces are essentially high. It is the first center to offer such a preservation service for individual collectors.

Art’s New Accountability (Global Times)