Wang Wei & Liu Yiqian

Patrons taking their collection public through the private Long Museum in Shanghai

The billionaire investor couple’s Long Museum West Bund remains Shanghai’s premier private museum for contemporary art. And given that there is no abundance of state-run institutions dedicated to that field, this is more important than it might be elsewhere. Liu, a serial record-breaker when it comes to buying (having previously paid $170m for a Modigliani painting and $36m for a porcelain ‘chicken cup’), may have kept things relatively reasonable this year, but the Long Museum West Bund (one of two Long Museums in Shanghai – the Pudong venue focuses on ‘red classics’ from the Chinese revolutionary period – with a third in Chongqing and a fourth due to open imminently in Wuhan) continues to focus on presenting work by some of the most high-profile (and high-value) Chinese and international artists: the past 12 months have included a retrospective of work by Louise Bourgeois, a new production by Yang Fudong and a 40-year survey of Chinese contemporary art.