More than 30 films from Taiwan, China, and Hong Kong were nominated in the 49th edition of the Golden Horse Awards, styled after the US Academy Awards but decided by a jury along the lines of the Cannes festival.

A Chinese police drama featuring a cast of amateur actors on Saturday became the surprise Best Picture winner at Taiwan's annual Golden Horse Awards, dubbed the Chinese-language "Oscars."

Beijing Blues, directed by Gao Qunshu and about plain cloth police hunting down thieves and con artists in Beijing, also bagged best cinematography and best film editing awards.

Acclaimed Hong Kong director Johnnie To's financial drama Life Without Principle also fared well, collecting best director for To, best leading actor for Lau Ching-wan and best original screenplay.

Lau played a simple and honest gangster in the movie that centres on the characters' struggles between money and principles in the midst of a financial crisis in Hong Kong.

To was absent from Saturday's ceremony while Lau, a first-time Golden Horse winner, dedicated the award to his family in a brief speech.

Taiwan's Gwei Lun-mei was crowned best leading actress for her role as a wilful and frustrating woman in the love story "Gf*Bf", also released as Girlfriend Boyfriend.

Check out the List of Winners from the Golden Horse Award 2012 HERE.