I'm surprise we didn't caught wind of this piece of news sooner when it was announced last year but we won't make the same mistake again. Not content to allow Hollywood have all the popcorn fun, China is shelling out a $100 million US budget to produce its own heavy CG effects spectacle in Empires of the Deep (previously entitled Mermaid Island), an underwater fantasy adventure that will feature a world of mermaids, giants, mage and more different sea creatures. Its a US/China joint project so the production will employ talents from both Hollywood and China. While I'm not entirely sold on Pitof of Catwoman as the director but his extensive background in visual effects does have its merit and the possible casting of the goddess that is Monica Bellucci as the mermaid queen is enough for me to dive in.
The ambitious film is due out in 2010. Explore the official site to find some character designs/concept art and CG rendering of the sea creatures at the Behind the Scenes section.