Village Roadshow Pictures Asia has come on board to co-produce “Man of Tai Chi,” Keanu Reeves’ directorial debut, with China Film Group and Wanda Media Group.

The film will be co-financed and distributed by the co-producing partners and Universal Pictures. Reports had emerged about the financing in October; Village Roadshow Entertainment Group’s CEO Greg Basser made the official announcement on Thursday.

“Man of Tai Chi” will be filmed in Beijing, Hong Kong and Macau. Lemore Syvan is producing.

Affiliateds of Village Roadshow will distribute in Australia, New Zealand and Singapore. China Film Group and Wanda Media Group will handle in China, and Universal will take the rest of the world.

“The opportunity to get further involved in the Chinese market and to bring Chinese films to audiences around the world is important to Universal,” said David Kosse, president of Universal Intl.

“Man of Tai Chi” is set in contemporary Beijing and will co-star Reeves. The drama follows the spiritual journey of a young martial artist, played by Tiger Chen, whose fighting skill brings him to a realm of vast opportunities and painful choices.

Production’s planned to start in Beijing in February.