Tianjin Exchange Hypes Art for Money's Sake

It's a moneymaker that has investors drooling in China: Shares in bits and pieces of paintings and other works of art are now trading on the shadowy Tianjin Cultural Artwork Exchange.

Subscribers to the exchange's initial offerings announced in January saw their investments grow 15 times, at least on paper, in just over a month.

A blip came March 17, when investors chalking up fantastic returns were informed by the exchange that the Tianjin Municipal Government had halted all trading for millions of shares in two modern paintings: Huang He Pao Xiao (Roaring Yellow River) and Yan Sai Qiu (Yansai Autumn).

The notice said the government had suspended trading "to reduce investment risks and protect investor interests."