WANG Wei could easily be considered a woman who has it all.

In June 2012, Wang and her husband, Liu Yiqian, were on the 2012 ARTnews Top 200 Art Collectors list. It was the first time collectors from Chinese mainland were listed in the selection of the art world's elite.

In December, the wealthy, middle-aged Shanghainese couple, who have been collecting for more than two decades, opened their first private establishment, Long Museum, to the public on Luoshan Road in the Pudong New Area. It showcases ancient Chinese masterpieces and contemporary pieces such as red classic art from their collection.

The couple plan to open another, bigger new museum - Long Museum Puxi Branch - on the west side of the Huangpu River in December. It will feature chic design and focus more on modern and contemporary art.

Wang, a finely coiffed, slender woman, doesn't strike one as the mother of four children, the youngest of whom is in his teens.

Just back from a vacation of about a month in New York City and Hawaii, Wang is now concentrating fully on her work as director of the Long Museum and preparing for the opening of the new museum.

"I have had the good fortune in life to meet my husband," she said, "He is a responsible and assertive man, very caring and considerate with our family. Believe it or not, sometimes I feel like a girl with him. His passion and love is stronger than mine."

Neither Wang nor Liu, a former taxi driver and grocery store owner, was wealthy when they met in 1982.

"He got a glimpse of my photo and urged his friend to introduce me to him," she recalled. "Then we fell in love." They married in 1985.

Liu first hit it big in China's emerging stock market in the 1980s. Last year, Liu was listed at 171 on the Forbes China Rich List 400, with a fortune amounting to US$790 million.

But Wang didn't become a lady of leisure. She worked at a Shanghai-based auction company for three years, developing sharp eyes for good art.

Once she saw a painting depicting New China's first generation of political leaders on an auction catalogue, and found the image familiar. She remembered it as from a textbook in school. She said she was inspired to start buying red classic art.

Her interest in art started early - she was picked in primary school to be the student in charge of drawing on the blackboard. "Now, occasionally, I still paint during my spare time, as a release to escape for a time from the real world."

In the art world, Liu is known as an aggressive buyer ready to pay what may seem to be extremely high prices for selected pieces. There is a method to the madness, however.

In 2009, Liu bought a painting scroll, "Sketches of Rare Birds," created by Zhao Ji, an emperor of the Song Dynasty (960-1279) for more than 61 million yuan (US$9.9 million), and an imperial throne from the Qing Dysnasty (1644-1911) for more than HK$85 million (US$11 million). Both later soared in value.

While Liu is focused on ancient Chinese art, Wang has been building their collection of modern and contemporary Chinese art.

"But that doesn't cause any disputes between us in buying different artworks," she said, "He is quite generous in supporting my direction in collecting art. We never squabble. Sometimes when I am interested in a costly oil painting, I show it to him and he never hesitates to bid on it for me."

Liu is not only generous in catering to his wife's artistic tastes, but also to her passion for jewelry.

Liu frequently buys diamond bracelets and necklaces at auction for Wang.

"There will be an exhibition of my jewelry collection at the opening of the new museum," Wang said. "This is one of his habits. When he earns some money, the first thing he thinks of is buying something for me, whether art or jewelry."

But Wang says money has not gone to her head.

"I am a simple person. Maybe my husband meets my requirements in everything so easily that I don't think money is that important," she said. "That's also what I taught my children."

Wang said the educational philosophy she used with her children was not restrictive.

"Each one has his or her own personality. I give them different suggestions for their career and study paths," she said.

One of their daughters is studying art history abroad, and their son is interested in painting.

"I don't want my children to show off like nouveau riche - all of them keep a low profile," she said. "They are well educated with good manners. Not all of them excel in exams and test scores, but I don't care. I hope that they grow up in a healthy way."

Wang gives a surprising answer when asked how she keeps her slender figure.

"I don't go to the gym, only occasionally have a walk," she said. "Neither am I the kind of person who is strict with what I eat or don't eat. I enjoy tasty food. I am lucky that I am born to be a person who doesn't easily gain weight."

A lover of luxury designers Armani and Max Mara, Wang's dress is simple and well tailored, an image that carries over to her work style. "I am also feminine," she said with a smile.

About eight years ago, the couple started thinking of opening their own museum to share their collection with the public. It cost them 200 million yuan for the land and construction. The four-storey-building has more than 10,000 square meters, half of which is exhibition space.

The new museum along the Huangpu River is even bigger, covering 16,000 square meters. Few art institutions in Chinese mainland have collected contemporary art so systematically, a gap the couple hope to fill.

Art lectures, workshops for art lovers and children, and tea parties are among the program plans for Long Museum.

"If I told you that I have no financial burdens operating these two museums, I would be lying," Wang said. She said running a museum is costly - more than 10,000 yuan every day just for electricity. The 50-yuan admission covers only a fraction of the cost, she said. "So I might include some commercial activities and events in the new museum, as the new location has a stunning landscape."

She said she hopes the museums will continue far into the future.

"When we opened a private museum, it already meant we wouldn't donate our collection," she said. "I hope these two museums go on for the long haul. The name was chosen for the Chinese word for 'dragon' ... but I also hope it will go on for a 'long' time as the name suggests.

"I hope these two museums carry on into the next generation, as I hope our ideas do, too. We are all mortal beings, but spirits, ideas and art survive for thousands of years."