One of Asia's premier contemporary art fairs, the China International Gallery Exposition opens Thursday at the World Trade Center in Beijing. The fair showcases 80 selected galleries from around the world and presents young and emerging artists' work from Asia.

The whole second floor of the Exhibition Hall of the China World Center features young, talented artists from Asia. "Mapping Asia" creates a panoramic view of the new trends in Asian contemporary art from Tokyo to Istanbul. All participants were after 1968 and have Asian lineage or Asian an cultural background.

A committee of art experts will choose three artists. Curator Alexander von Vegesack from Germany is one of the panel of judges.

Alexander von Vegesack, the director of Vitra Design Museum said, "There are lots of surprise. And the ambience is very inviting. Because it's not a huge fair, but it's very personal. Specially, of course we are interested in what's happening in Asia right now after economic development. I'm expecting that because of the development in Europe, Asia and America, artists will focus more on quality and galleries also."

From paintings and sculpture to videos and devices, the expo offering a platform for artists, galleries, art dealers to build communication and cooperation in the poor global economy.

The slowdown has cooled the hot art market, bursting the bubble, and speculators are leaving.

Christine Kunkler, the director of Galerie Artodrome Berlin said, "I think art market it's a little bit crazy. The work are different from other markets. In the art market, people buy names like they buy good shares. In art market they buy good names and good artists. But they don't look the work itself which is strange I think. If you buy and appreciate art, you should really appreciate the art you buy not just the name of the artists who made this piece. So maybe this situation at the moment when the economy is slow is a good chance for the art market renew itself to be reborn. "

The China International Gallery Exposition runs from Thursday till Sunday at the exhibition hall in World Trade Center in Beijing.