Did Xiao Li die on a rainy night at the end of Monty?

No, A Rainy Night directed by Rong Xiao, 1993, was released in Hong Kong. It tells the story that Lin Guoyun, the butcher on rainy nights, appeared in Hongkong in 1980s, and that a murderous maniac appeared in Guangzhou in 1990s. The police launched an investigation into this. In the end, Xiaoli was unfortunately injured by a murderer and was successfully rescued by the hospital. Not dead.