Robert Frank has a brief post on the tempered market for Chinese art that closes with this quote:

Guan Yu, Beijing-based director at the research firm AMMA (Art Market Monitor of ARTRON), told the China Economic Review that the art boom of 2009-2010 was the result of liquidity from the government stimulus “washing up in art.” He said that the economic slowdown in China could cause the tide to recede.

China’s Art Bubble May Be Popping (CNBC)