The Asian Art Museum is currently showing an exhibition about Shanghai art since the end of the dynasties to nodays.
The least I could say it that it seems to me that with the colonization which has bring a hudge western influence and the birth og the "Republic" of China, the city has been unlikely to create origin arts...
I would have probably avoid to speak about this exhibition if I did see a wonderful film called The new book of the mountains and seas (2006) by Qiu Anxiong. This film is actually made of paintings and it depicts urban development in a very allegorical way. Absolutely superbe!
Shanghai exhibition is running until September 5, 2010 for $20.