Beijing: An oil painting by Chinese contemporary artist Wu Guanzhong has sold for 149.5 million yuan (about USD 23.6 million) at an auction held in Beijing.

The painting titled 'Ten Thousand Kilometres of the Yangtze River' was created between 1973 and 1974 and is considered to be one of the artist's best works, as reported.

Born in 1919 in Yixing in eastern Jiangsu province, Wu is widely recognised as the father of contemporary Chinese painting. He died in July 2010 at the age of 91.

Recently, an album of 12 landscape paintings by another contemporary painter, Qi Baishi, was sold for 194 million yuan.