Banking on the value of high-quality ceramics
Print Edition
A new form of individual investment has started in Minhang. Called the “kiln bank,” it’s an institution combining both culture and finance, providing a platform for the ceramics arts.
The Shanghai Xiyaohui Cultural Development Co, which operates a store called Xiyaohui Chinese Kiln Bank on Xinzhu Road, is the first of its kind to trade on the Shanghai Equity Exchange.
The store displays the process of ceramic production and provides information on the artistic value of ceramics. There is also an online platform for ceramic exchanges and auctions.
“We customize ceramics for clients, giving them information about the technology of different kilns in China,” said Jin Jiangang, founder of the company. “Our clients can use the information to value ceramic works in what is otherwise a very confusing market.”
Jin is not a newbie to “cultural finance.” Before funding Xiyaohui, he founded a “liquor bank” in Guizhou Province, the cradle of the celebrated Moutai liquor.
Jin said the kiln bank was founded because China lacked a comprehensive platform for ceramics art and trade, despite strong interest in the field.
“Before Xiyaohui, most ceramic trading platforms in the country served certain artists or kilns,” said Jin. “I wanted to integrate the resources.”
Jin’s partner in the venture is Zhang Weihua, an acknowledged expert in ceramic arts. The two of them started their business in Jizhou, a center of ceramics in Jiangxi Province, which has a history of kilns dating back to the late Tang Dynasty (618-907 AD).
Most the products traded through the company are from Jizhou. The company has invested more than 120 billion yuan (US$19.3 million) to build a new kiln at the Jizhou Kiln Relics Park.
The company operates a ceramics workshop for clients and other art lovers to make their own products.
Citing the difficulty of assessing risk in art investments, Jin said Xiyaohui has established a risk control system.
“Before every piece of ceramics goes on the market, we invite experts to authenticate quality and artistic value,” said Jin. “We are also creating an online data base to provide analysis reports to clients.”
Xiyaohui is also cooperating with banks and securities institutions in delivering its assessments on trade and investment in ceramics.
“As such, we can recommend guaranteed products to our clients,” said Jin.
The ultimate goal of the company, he said, is to connect a network of eight ancient official kilns, five folk kilns and ceramic artists from around the country, providing products to the company in Shanghai.
“The government has issued a series of policies beneficial to cultural finance,” he said. “But people who are interested in ceramics investment still have a lot to learn about this field. I think we have a long way to go to build up our brand.”
Jin said he expects cultural finance to become more popular. Indeed, that is happening.
Before Xiyaohui began attracting attention, the Bank of Communications unveiled a “jade bank” in the Jiangsu Province city of Yangzhou. The jade bank was designed to facilitate auctions and stimulate investment in jade products.
Similarly, an “embroidery bank” has opened in the city of Suzhou, which is famous for its handcrafted arts.
“I think cultural finance is a new way to promote traditional arts in China,” said Jin. “It gives motivations to artists and allows ordinary people to get in touch with what were once exclusively high-end markets.”
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