2018 Asia Art and Finance Forum as well as Business Model of Art & Finance and its Innovation was held in Shanghai on March 28.

The third Asia Art and Finance Forum is held in Shanghai on March 28. [Photo/sh.chinanews.com]

The forum, sponsored by the Asia Institute of Art & Finance (AIAF), brings together top Chinese and foreign experts for the purpose of discussing the innovative mode of artworks finance industry at home and abroad to push forward the cross-border development of the Chinese art finance.

“Art finance and art trade aregetting booming in China, indicating people’s increasing confidence in the Chinese long-term economy." said Cheng Tianquan, Honorary President of AIAF.

According to Xi Mu, deputy head of Chinese National Academy of Arts, art finance is promising, because with the aid of financial technology like cloud technology, big data, artificial intelligence, etc., the moral hazard art trade used to face will be solved, so that more people would participate in art trade.

Fan Yong, the founder of Asia Institute of Art & Finance (AIAF) delievers a speech on the third Asia Art and Finance Forum. [Photo/sh.chinanews.com]

However, Fan Yong, the founder of AIAF, pointed out that talent shortage has become a major challenge for the innovative development of the current Chinese art finance.

With the wish of “providing service for good life through artworks education and making Shanghai the center of art”, Fan Yong applied for the establishment of AIAF in the Shanghai Free Trade Experimental Zone in 2015. Core education resources in the world’s art and finance sector has been selected to cultivate talents in the field. Currently, innovative education models are also being explored in the institute.