BEIJING.- A collector has paid 30 million yuan (US$3.75 million; euro3 million) for a 1939 painting by a Chinese artist, setting a new record price for Chinese oil paintings, a news report said Tuesday. The painting was reportedly hidden in a dry well in Singapore for 10 years. The "Silly Old Man Moves a Mountain," or "YuGong YiShan" in Chinese, which was painted by master artist Xu Beihong (1895-1953) in 1939 during his stay in Singapore, was snapped up by an unnamed mainland collector. The previous record price of 28 million yuan (US$3.5 million; euro2.8 million) was set in April at a Hong Kong auction of a painting by Paris-based Chinese artist San Yu, the China Daily said. Xu's "Silly Old Man" depicts a Chinese folk tale about a man who devotes his life to digging away a mountain that blocks his access to the outside world. The story, known in Chinese as "Yu Gong Yi Shan," is often cited as an example of perseverance, according to the AP.