Luo Man and Wang Shanshan: Shanghai interest in arts grows

From China Daily:

Interest in art collecting is growing in Shanghai and neighbouring Jiangsu and Zhejiang provinces, said Li Lei, vice-president of the Shanghai Institute of Oil Painting and Sculptures and one of the organizers of “Art Shanghai,” which begins today.

The four-day fair includes more than 6,000 works by Western artists and some Chinese contemporary painters, and will cater to the growing number of collectors with a taste for the lesser known works of Western masters and who may be willing to pay up to 1 million yuan (US$120,000) for them.