TAIPEI, Taiwan (AP) — The Chinese-language version of the Oscars is being held Saturday night in Taiwan's capital, Taipei, with veteran director Zhang Yimou's monochrome historical epic "Shadow" a leading contender for best picture.

The Golden Horse Awards honor films from Taiwan, Hong Kong, mainland China and other parts of the Chinese-speaking world, transcending political, cultural and geographic borders. This year's judging committee is led by Gong Li, the leading actress in many of Zhang's earlier films, who was invited by Ang Lee, director of Hollywood features such as "Brokeback Mountain" and "Hulk."

"Shadow," which delves into the rich vein of Chinese martial arts and palace intrigue, leads with 12 nominations.

Other films in contention include "Dear Ex," which explores the relationship between a homosexual's family and his gay lover after his death.