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Lee Joo-lai

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Adapted from Wikipedia, available under CC BY-SA 4.0Updated 15 July 20259 sources

Li Zulai was a banker and collector during the Republic of China era in Shanghai. He was a close friend and later agent of the painter Zhang Daqian, and under Zhang’s influence became a major art collector.[1]

Life

Li was born in 1910 in Shanghai, ancestral home Ningbo, Zhenhai County, of the Xiaogang Li family, fourth generation with the character "Zu" in his name.[2] His grandfather Li Weibzhuang died early when Li was seven, and the family fortunes declined. A childhood football injury left him with a limp. He graduated from Guanghua University in Shanghai and studied business at Fudan University.[3]

He worked at his maternal uncle Fang Jiyang’s Anyu Private Bank, then was recruited by Wu Dingchang, general manager of the China Salt Industry Bank, to join that institution. He rose to assistant manager and head of the business department. During the Wang Jingwei regime he served as manager at the Bank of China.[1]

After 1945 Li was arrested for collaboration and imprisoned at Tilanqiao Prison alongside Zhu Boquan. He was released in 1948 and moved to Hong Kong with his wife Li Deying.[4]

In Hong Kong he entered the film and entertainment industry, joining Yonghua Film Co. run by Li Zuyong and working with Li Junqing. He socialized with performers like Meng Xiaodong and became close to painter Zhang Daqian, acting as Zhang’s agent in Hong Kong.[5]

In the 1970s Li moved to Taiwan as Zhang Daqian’s full‑time agent and became one of Zhang’s largest collectors. He later served as manager of a Swiss foreign trade company’s Taiwan branch.[1]

He died in 1986 in Hong Kong after a fall from an elevator at Pacific Place in Central; other reports say he suffered a stroke. He was 76. His only son Li Mingye is a Hong Kong businessman married to a daughter of Cai Shengbai.[2]

Art Collection

Li was a major collector of Zhang Daqian’s work, having been encouraged by his sister Li Qiujuan. His collection was auctioned at top houses:

  • Zhang Daqian’s “Lady and Hunting Dog,” sold for HK$66.2 million at Sotheby’s Hong Kong 2014 Autumn Sale.[6]
  • Photograph “Meng Xiaodong at Li Zulai’s Hong Kong Home,” sold RMB 126 500 at Beijing Yinzhu Auction 2014.[7]
  • Zhang Daqian’s Dunhuang‑style “Lady,” formerly in Li’s Hong Kong hall, sold decades later.[8]
  • Zhang Daqian letters and other paintings sold at Christie's and Poly in 2011–2015.
  • Huang Ding’s “Mountain Dwelling,” sold US $137 274 at Christie’s New York 2014.[9]

See also

  • Yan Renmei

References