Pine Trees, by Pan Tianshou [Photo providede to China Daily]

The Shanghai-based private Long Museum acquired an ink painting by modern master Pan Tianshou at a Beijing sale on Monday night, at the price of 93.15 million yuan ($14.5 million).

Pine Trees was created in 1964 and inspired by Chairman Mao Zedong's poem, a common approach for Chinese painting artists to translate the traditional art form into the social context of the time.

The painting is one of Pan's several works in which he firmly responded to the doubts that Chinese painting could not reflect real life and was not a universal art at the time.

Pine trees recur in Pa's many works and speaks to his character: being proud, independent and not pursuing fame and fortune.

The purchase has made another addition to Long Museum's pricey collection. Its founder, self-made billionaire Liu Yiqian just bought a $170.4 million Modigliani nude at Christie's New York sale, on behalf of the museum.