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"CTBC Painting Prize" was established with the aim of supporting innovative artists of the new generation and those below middle age. Held biennially, the prize dedicates an extended period to cultivate diverse and distinctive contemporary painting creations. In its inaugural year of 2021, a total of 790 artworks competed for the award, with the judging panel carefully selecting 20 pieces that reflected the significance of the times. These selected works were then showcased at the Kuandu Museum of Fine Arts.

The "CTBC Painting Prize" organized by the CTBC Foundation For Arts And Culture, aims to uplift innovative artists of the new and middle-aged generation. The competition for submissions was fierce, with well-known artists vying for recognition. The prize ceremony and opening reception resembled a grand celebration in the contemporary art scene. The first prize winner, Yi-Ju Tsai, received an award of 800,000 NTD for the artwork " Good Time – The War Without Gunfire – War No. 19" The three merit prizes, each receiving an award of 400,000 NTD, were " Island Stories: Past and Present" by Chou Tai-Chun, " The Scene on a Junk Boat" by Hsieh Mu-Chi, and " Cherish Every Moment Before Tonight" by Su Huang-Sheng. The first prize and merit prizes will be collected by CTBC Foundation For Arts And Culture, contributing to the continuous support of the Taiwanese arts and culture scene.

" CTBC Painting Prize “ in Taiwan marks the beginning of rewarding exploration into the essence of painting and its contemporary transformations," stated Lin Ping, the chairman of the judging panel and former director of Taipei Fine Arts Museum. She expressed that it took over four years for CTBC to reach this point, involving intense debates within the judging panel and gradually moving beyond conventional award positioning to find the unique spirit of CTBC. The addition of "contemporary" to painting emphasizes repeated debates on the essence of painting and a reexamination of its definition from various perspectives. It involves reflecting on and questioning the history of painting, attempting to identify, reassemble, or redefine the value of painting in the present context. Lin Ping further explained that within the art prize mechanisms established by official or private institutions, painting is almost on the periphery of contemporary art discourse. Therefore, the " CTBC Painting Prize," which emphasizes reflective thinking and a fresh start, is a necessary artistic reward resource and developmental milestone for Taiwan in this era. Huang Jian-Hong, the director of the Kuandu Museum of Fine Arts, also commented, "Art prize can provide valuable resources, and they have the potential to positively impact the art ecosystem. We are honored to respond to this impact as a university art museum, and we appreciate CTBC for assembling such an exceptional judging panel."

As the only award in Taiwan that focuses on "contemporary painting," it sets itself apart from other comprehensive awards by encouraging artists to return to the realm of "painting" and explore the boundless possibilities of "contemporary painting" without restrictions on medium or size. In its inaugural edition, a total of 790 artworks were submitted, and after two rounds of selection by a strong panel of judges, 20 works with distinctive perspectives and significant reflections of the current era were chosen to be exhibited at the Kuandu Museum of Fine Arts.