The Centre Pompidou in Paris is reportedly planning to open a site in Shanghai’s West Bund cultural district.
Sources say it will showcase works lent by the Paris centre and provide a platform for Chinese contemporary art.
The West Bund cultural district is an ambitious joint project between the district government of Xuhui and the Shanghai-based West Bund Development Group.
The former industrial area is being transformed into a cultural hub with venues such as museums, a theatre and an IMAX cinema.
Shanghai’s Centre Pompidou is apparently to be housed in the new West Bund Art Museum. The museum has been designed by British architect, David Chipperfield. It will be built near the Tank Shanghai art centre, the brainchild of collector Qiao Zhibing.
Furthermore, the Paris institution will receive an annual fee of around €1.5m ($1.6m).
Centre Pompidou made its Chinese debut last year with a show at the Shanghai Exhibition Centre. It showcased works by major artists including Picasso and Marcel Duchamp.
Significantly, dealers are already setting up shop in the West Bund district. These include ShanghART and Hong Kong-based dealer, Edouard Malingue.
Xuhui already funds and hosts an annual art fair, West Bund Art and Design. The fourth such event will be held from 10th to 12th November 2017.
There is no formal opening date for the West Bund Art Museum, but it is expected to be up and running within two to three years.