Speaking about the award, Shen says: "Europeans want to know more about China and its film industry ... The awards can act as a bridge to connect the West and the East."
Shen also says the event, which obtained approval in November, was inspired by European Shooting Stars, a project to pick the continent's best young actors at the Berlin festival.
"The (Shooting Stars) event has been on for 18 years. Every year, it helps 10 acting talents," he says.
Renate Rose, director of the European Film Promotion, says Shooting Stars has cultivated a great number of actors, "helping them establish brilliant film careers and achieve worldwide stardom".
He points to Alicia Vikander, winner of the 88th Academy Awards' Best Supporting Actress prize, and Cosmina Stratan, winner of Best Actress at the 65th Cannes International Film Festival.
"European Film Promotion and European Shooting Stars also want to deepen communication and cooperation with the Asian film market," says Rose.
Separately, Shen says the Asian Brilliant Stars will team up with other Asian countries, such as Japan, South Korea, India and Singapore, in the coming years.
As Shen sees it, Asian films have yet to earn a mainstream seat on the global scene. The first step for Asian filmmakers is to let Western audiences understand and like their stories.
He says most Chinese directors are still struggling to find a balance between commerce and art, which often stops talented art-house filmmakers from making quality films.