Law's $2m Like A Dream follows an American-born Chinese who travels from New York to Shanghai where he falls in love with a local girl and her lookalike. Yim's $35m Nanking Xmas 1937 , about the Nanjing Massacre, tells its story through the eyes of an American family.
Runner-up prize went to Hu's $12m gangster epic Lord Of Shanghai about a 15-year-old prostitute at the beginning of the 20th century who falls in love with a triad godfather; when he is assassinated, she plots revenge on his successor.
Taiwan's Lin Yu-hsien, who has participated in all three editions of TFTPP, took the $6,200 second runner-up prize with Somersault Punk. The production, budgeted under $1m, is about the redemption of a talented gymnast who becomes a street punk after an injury.
Additional non-monetary prizes went to Lin Yu-hsien's Somersault Punk, Samson Chiu's Karaoke Forget-Me-Not, Pang Ho-cheung's One Day Of Ibrahim and Tsai Yueh-hsun's television drama The Police.
The three-day projects market was organised by the Golden Horse Executive Committee for the first time after last year's edition, organised by a local television station, failed to attract overseas producers or investors.
This year's event was distinguished by the strong presence of mainland directors and producers under the chairmanship of producer Peggy Chiao. High-powered guests included Polybona's Yu Dong and Huayi Brothers' Wang Zhonglei.