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Ullens Center for Contemporary Art sold to Chinese investors. Leading Beijing museum had been on the market since June 2016.

Beijing’s Ullens Center for Contemporary Art (UCCA) has announced that its parent organisation UCCA Group was sold last week to a group of investors including Jason Nanchu Jiang, the founder of Focus Media, and the education company Future Edutainment.

The museum’s founders Guy and Myriam Ullens announced that the UCCA was up for sale in June 2016, fuelling concerns about the future of what has become one of mainland China’s leading private art institutions since it opened in November 2007. The UCCA Group will also partner with Seven Star Group, owner of the 798 Art District that houses the UCCA, to renovate and expand the museum’s premises.

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