Turning art into business

Huayi Brothers Media chairman Wang Zhongjun, 56, a billionaire and art collector, has turned his attention to art trading and plans to set up an auction house in Shanghai this year. Lin Qi reports.

Self-made billionaire and art collector Wang Zhongjun, 56, is an ambitious man. The chairman of Huayi Brothers Media aims to profit not only from China's flourishing entertainment industry but also by trading in art.

Wang signed a strategic cooperation agreement on June 22 in Beijing, through which Huayi Brothers Venture Capital, an affiliate of Wang's media enterprise, will establish an art-auction house in Shanghai jointly with Beijing Poly International Auction and Tianchen Times, a Beijing-based cultural corporation, which Wang co-founded.