"Zhichuan Resettlement" by Yuan Dynasty painter Wang Meng

The spring auction season continues with a robust Asian sale series in China. An wash painting of mountains and waters by Yuan Dynasty painter Wang Meng (1301 - 1385) set an auction record at 402.5 million yuan (US$62.11 million) on Saturday night.

The hanging scroll "Zhichuan Resettlement" portrays medical scientist of the Eastern Jin Dynasty (317 AD - 420 AD), Ge Hong, moving his home to the Luofu Mountain for alchemy.The picture has been handed down for six centuries. It is the most expensive one in the history of Chinese artworks auction.

Zuo Xinyang, Ancient Painting Dept., Beijing Poly Auction Company, said, "This painting reflects the inner thoughts of the intelligentsia back in the Ming Dynasty, whose works pursued an artistic utopia and freedom."

The transactions on the artworks market reached 58.9 billion yuan last year, 177 percent more than in 2009, according to a report released by the Culture Market Department of China’s Ministry of Culture.

The market this year has maintained a momentum of big growth, according to industry insiders.