The organizing committee of the 14th Shanghai International Film Festival (SIFF) announced on Apr 18 that Japanese director, Shunji Iwai, will chair the New Currents Award jury for SIFF, Chinanews.com reports.

Iwai is hailed as the most potential, "image writer." His film "Love Letter," made in 1995, caused an unprecedented sensation in Japan. In 2002, his movie, "All about Lily Chou-Chou," won the Golden Cup Award at SIFF.

The New Currents Award was founded in 2004. It's a permanent award ranking only second to the Golden Cup Award. This award is to boost the creative vitality of Asian film industry and discover new talents. 300,000 RMB bonuses have been prepared for the winner.

The nominees of the New Currents Award will be announced at May and the awards ceremony will be held on June 17.