Actress Zhang Ziyi promotes her film "My Lucky Star" at a press conference in Beijing on August 29, 2013. [Photo/CRIENGLISH.com]

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Boxun News claimed the star had slept with top Chinese officials in exchange for money and gifts.

In a statement, they admitted it didn't contact the "Crouching Tiger, Hidden Dragon" star before publishing the allegations last year.

The news agency also admits it has no evidence to support its previous claims.

A spokesperson for the 34-year-old actress says the star will withdraw her lawsuit against Boxun News.

Zhang Ziyi has won more than 30 nominations and 20 wins in awards ceremonies around the world, including a Golden Globes nomination for Best Actress for her role in "Memoirs of a Geisha".