This year the Yuz Museum announced a partnership with the Los Angeles County Museum of Art. Michael Govan, chief executive and director of the Los Angeles museum, says it has been active in Asia for many years, establishing itself as a leader in collecting traditional and contemporary art. The partnership will help the museum extend its reach in Shanghai and introduce contemporary art from Asia, especially China, to wider audiences everywhere.

Located two blocks away from the Yuz Museum is the Long Museum, which is renowned for its collection of important artworks from China and abroad such as a 22-million-yuan ($3.47 million) tea cup from the 14th century and a painting by Amedeo Modigliani that cost $170.4 million.

The Long Museum was founded by Liu Yiqian and his wife Wang Wei in 2012, and expanded from its initial location in Pudong to its 40,000-square-meter new facility in the West Bund in 2014. This year the museum hosted a large exhibition featuring masterpieces from Dutch portrait artists such as Rembrandt, Johannes Vermeer and Frans Hals.