After three years of preparation and research, the China National Arts Foundation was founded on Monday in Beijing.

The foundation, which receives funding from the central government, also accepts public donations. It offers financial support for the creation, promotion and collection of quality art work, as well as an education for young artists.

A committee will decide which applicants will receive financial support and the amount. The recipients have not been approved by the decision-making Foundation Council.

“It (the foundation) signifies that we now have a new platform, channel and plan to manage, financially support and guide the art business to develop in a healthy way,” said Cai Wu, minister of culture, who serves as chief director of the council.

“The national foundation is for us still a new thing, and we need to keep exploring during practices and improve ourselves.”