The actress also played a leading role in the 2000 box office hit Crouching Tiger, Hidden Dragon.
Three years before Hong started ImaginAsian, Crouching Tiger, Hidden Dragon had become the most successful non-English-language film ever.
They're hoping to make the next "Crouching Tiger, Hidden Dragon, " a 2000 U.S.-China-Hong Kong-Taiwan co-production that became a global blockbuster.
Crouching Tiger, Hidden Dragon actress Zhang Ziyi ranked No. 2 in the overall list, and international film star Gong Li was No. 5.
Lee has two best director Baftas already - one for Crouching Tiger, Hidden Dragon in 2001, and another for Brokeback Mountain in 2006.
Not many titles nominated as best foreign language film ever break out into general categories, the rare examples have included Life is Beautiful (1998) and Crouching Tiger, Hidden Dragon (2000).
Born in Taiwan, he'd directed "The Ice Storm" and other American films before "Crouching Tiger" and set out to make a picture that would please both sides of the Pacific.
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"Crouching Tiger, Hidden Dragon" smashed more barriers in 2000.
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Lee, whose previous credits include the martial arts film Crouching Tiger, Hidden Dragon, Jane Austen adaptation Sense and Sensibility and comic book blockbuster Hulk, saw his latest film win a total of four Oscars in February.
It came in ahead of ahead of more widely known films like Japanese Akira Kurosawa's "Shichinin no samurai" ("Seven Samurai"), which took second place and "Wo hu cang long" ("Crouching Tiger Hidden Dragon") by Taiwan's Ang Lee, which snared third.
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We don't usually think of "Brokeback Mountain" director Ang Lee as an effects filmmaker, but he gave us the romantic swordplay above swaying bamboo forests in "Crouching Tiger, Hidden Dragon" and, less happily, "Hulk" bouncing across the desert like a rubber ball.
While the action is spectacular -- after all, the choreography was handled by kung-fu master Yuen Woo-ping, whose credits include Drunken Master and most recently The Matrix -- what really makes Crouching Tiger a gem is the wonderful blend of nostalgia, stunning cinematography, a fast-paced plot, and -- yes -- a good story.
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