"PSIFF is a very important venue," said Wong. "It gives a lot of emphasis on foreign films."

This year's PSIFF will screen all the nine films in the Foreign Language Film category selected to advance in the next round of voting  for the 86th Academy Awards, commonly known as the "shortlist." In fact, 46 of the 76 films that had originally qualified in this category will be screened during the Festival.

Wong told Xinhua that The Grandmaster is the first Chinese film in ten years to be nominated for the Academy Awards, after Hero in 2003.

"I take it as a recognition to Chinese film," he said.

PSIFF acknowledges Wong as "the master of images," saying his films are among "the most memorable and celebrated films of the last two decades."

Feng Xiaogang's Back to 1942 will also be screened at the Festival.

The PSIFF is one of the largest film festivals in North America, and brings together over 135,000 people every year.

A total of 187 films from 60 countries, including 77 premieres, will be presented at the Festival, which runs from Friday, January 3, to Monday, January 13 in Palm Springs, California.