Taipei, July 29 (CNA) Culture Minister Lung Ying-tai has said that her ministry is discussing the possibility of setting up an "art bank" to invest in the country's young artists and promote Taiwan's art industry.
An "art bank" would purchase artworks from young artists and provide platforms for them to showcase their works, Lung said Saturday at the awards ceremony of the Republic of China National Art Exhibition in central Taiwan's Taichung.
She added that Taichung's National Taiwan Museum of Fine Arts has begun to collect paintings by young artists and she hopes other museums would follow suit.
Meanwhile, the minister expressed concern over the falling competitiveness of Taiwan's art industry.
Taiwan's art galleries and auctions were full of vigor a decade ago, but "the focus now has been shifted to Hong Kong and China," Lung was quoted as saying in a statement.
Lung noted that Taiwan's galleries were marginalized after the rise of China's art market, seeing international auction companies, such as Christie's and Sotheby's, leaving Taiwan.
Now Hong Kong is one of the largest art trading centers in Asia, said Lung, attributing Taiwan's marginalization to the government's policies.
In addition, Lung said her ministry will aim to expand interactions between artists from Taiwan and abroad.
In the past, there was only cooperation with five or six overseas artist villages, but now the ministry will seek to develop relations with more artist villages to promote Taiwanese artists throughout the world, said Lung.
(By Christie Chen)