Director Ang Lee (left) and Tang Wei (right) on the set of 'LUST, CAUTION'

The film has picked up nominations for best film, best actor and actress, best director and Taiwanese filmmaker of the year.

Chinese director Wang Quanan's film, Tuya's Marriage, has also been nominated for four awards. It will go up against Taiwanese director Niu Chen-zer's political satire What on Earth Have I Done Wrong?!, Zhang Yang's Getting Home and Tony Ayres' The Home Song Stories.

Lee's movie has been barred from running for an Academy Award in 2008 and the Hong Kong Film Awards after breaking Foreign Language film rules. However, it recently won the top Golden Lion prize at the Venice Film Festival.

Source: WENN