The award curated by the Rockbund Art Museum in Shanghai had been shedding new light on Asia as a cultural region. It offered young artists the opportunity to present their work and networking across international borders. Thus, the award accounted for the dynamism in the Asian region and contributed to illustrating the diversity and differences between these regions. 

Curated by the Rockbund Art Museum in Shanghai, the prize, which carried a stipend of CNY 300,000, was awarded every other year. A group exhibition of the nominated artists was part of the project. The jury, made up of international experts, selected the winner on the basis of this exhibition. Artistically, the range of the works shown at the Rockbund Art Museum stretched from painting through sculpture, installation, video art and performance art.