Shanghai launched an artwork trading platform on Tuesday to promote a better business environment for trade in the city, according to local authorities.

The Shanghai International Artwork Trade Center, which is run by Shanghai West Bund Development Group Co., Ltd., provides one-stop services including information consultation, registration and trade management under governmental guidance.

It also introduces a series of institutions specializing in insurance, transportation, intellectual property rights and other fields to provide high-quality and well-regulated services, according to the company.

The city plans to set up the first Shanghai International Artwork Trade Month in November, during which about 100 activities related to artwork will be held.

Shanghai's total import and export volume of artwork and artwork auctions reached 7.8 billion yuan (1.1 billion U.S. dollars) and nearly 3 billion yuan, respectively, in the first half of 2019.

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