Liu Yiqian (L) and President of Christie's China Cai Jinqing Photo: IC

Setting the highest record for any Chinese artwork, a Yongle period (1403-24) imperial thangka purchased by collector Liu Yiqian on November 26 last year was handled over to him Thursday at Christie's in Hong Kong. Selling for 280 million yuan ($44.74 million), this is the first time the artwork has returned to China since it was lost overseas during the 1940s.

Over three meters high and two meters wide, this huge embroidered thangka is one of the only three known Yongle period thangka in the world now, with the other two located at the Jokhang Temple in Lhasa, Tibet Autonomous Region.

"I still can't forget my excitement when I first saw this thangka," said Liu at the handover ceremony. "It is not just an art masterpiece, but a witness to the evolution of Chinese culture and society, as well as its history."

Liu also revealed that his Long Museum in Shanghai, one of the most famous private museums in China, is planning to hold a religion/culture-themed exhibition next year, during which the thangka will be displayed to the public.