Artscape hit by global financial chill

An old Chinese saying goes something like this: Not even the most exquisite piece of art is worth more than a bowl of rice in times of crisis.

Of course, the financial crisis sweeping through a good part of the world hasn't brought famine and pestilence in its wake, but it has sure brought a chill to the once buoyant Chinese contemporary art market.

Even on a sunny spring day, you can feel the chill walking down the empty lanes of Beijing's 798 district, a sprawling factory complex that has been converted into an enclave of art galleries, painters' workshops and exhibition halls. There, the abundance of eye-catching signs in many different colors and sizes that advertise spaces for lease practically diverts from the display of art behind shop windows.