The rise of the Chinese economy ties into the rise of the Chinese collector and the revival of the Chinese contemporary art market. There is still much speculation about these collectors since most are deemed as investors but either way, the global art market is scheming up ways to tap into the Chinese market.

Chinese financial institutions are tapping into the rising art market. Minsheng Bank opened up their own museum earlier this year in Shanghai where they exhibit their own collection. Minsheng is the first private bank in China therefore they have the freedom to be more progressive: purchasing artworks a decade ago, before the Chinese contemporary art bubble (2006-2008).

Wang Lifeng painting in Hua Xia Bank’s main staircase

Hua Xia Bank, owned by the central government, is the most recent financial institution to collect Chinese contemporary art works. Paintings by Beijing based painter Wang Lifeng were installed in their Jinrong Jie office last week.

Wang Lifeng 420×180cm painting

Wang Lifeng’s style fits Hua Xia’s persona because they are a traditional state-owned institution. His oil paintings are modern interpretations of traditional Chinese ink paintings. He uses traditional symbols and iconography that have historical and cultural meanings, like Mei Lan Zhu Ju, four elements that represent the highest qualities of mankind in Chinese traditions.

Businessweek: The Rise of Emerging Art Economy.
Jing Daily: More Chinese Companies Investing in Corporate Art
China Daily: Minsheng Art Museum Opens in Shanghai
Hua Xia Bank Official Site
Artinfo: Treating Art as Stocks Comes to China