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The China-South Korea co-production is being co-developed by Korea's CJ Entertainment and Zhang, who will also take producer credit.
CJ will part finance the picture and is negotiating to pick up distribution rights in Europe and Asia. Other companies from Hong Kong and China are expected to provide the rest of the coin. Budget, currently set in the $2 million - $3 million range, will only be determined on the basis of final casting.
Pic will be helmed by an up and coming Chinese director to be announced in November in Beijing. Lensing is skedded for December.
Zhang, who recently wrapped Chinese period drama "Mei Lanfang" and U.S. horror-thriller "The Horsemen," is understood to have been looking for a romantic comedy for Asian auds.
"Romantic comedy with big stars like Zhang Ziyi, is not an established genre in China and we look forward to a successful collaboration with Zhang," Mike Suh, head of international film financing and distribution at CJ said. "More detailed information will be announced in Beijing in the near future."
CJ briefly introduced the project at its annual party in Busan that serves as its annual curtain raiser for its next year's line-up.
The company also unveiled a new Japanese co-production, "Fish Story," based on a hit novel by Isaka Kotaro.
"Fish" is produced by Amuse Soft and will be distributed in Japan by Showgate. CJ will invest and take international sales rights.
Zhang previously appeared in two other Korean movies: "Musa The Warrior"(2001) and 2003's "My Wife Is a Gangster 2."
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