The painting, which was once part of a collection in the Qing Dynasty (1644-1911), was taken out of the Forbidden City and passed through several hands until finally landing in a private Japanese collection.

It was sold for 25.3 million yuan at a Beijing auction in 2002－then a record for any Chinese work of art, to the Belgian couple Myriam and Guy Ullens.

They sold the painting seven years later in Beijing when it was acquired by Liu Yiqian for 61.7 million yuan after a 45-minute bidding war.

Also on display is Gong Fu Tie, a calligraphy scroll by Song scholar and literati Su Shi (1037-1101). Liu bought the scroll for $8.2 million at a New York auction in 2013.

The purchase, however, sparked a controversy back home as three researchers from the Shanghai Museum said that it was a 19th-century forgery.

Hao, the co-curator of the exhibition, says the organizers put aside the debate over the authenticity of the works, and focused on the collector's enthusiasm for traditional culture.

Xie says Song and Yuan art are seen as pearls in a crown, and adds that these days collectors are serious about what they collect.

"They seek professionals for advice on cultivating a discerning taste when it comes to art and building up a hierarchical collection. They rely on strict standards so that they collect the best works," he says.

"Their devotion to safeguarding cultural heritage should be encouraged."

Contact the writer at linqi@chinadaily.com.cn

If you go

10 am-6 pm, closed on Mondays, through March 31, 2017. Long Museum (West Bund), 3398 Longteng Avenue, Xuhui district, Shanghai. 021-6422-7636.