Shooting will last for nearly 6 months in both Beijing and Hong Kong.
Chen Hu, Reeves' Kung Fu coach, will play the lead in the movie, and Reeves will play the villain.
Hong Kong singer-actress Karen Mok will play the female lead as a police officer.
Chinese kung fu master Yuen Woo-ping will choreograph the movie.
"Man of Tai Chi" is the first time for Reeves to take the helm as director. It is a modern kung fu flick with a Tai Chi twist.
China Film Group, Village Roadshow Asia, Wanda Media and Universal Pictures will co-produce the movie. Universal Pictures will be in charge of its release in North America.