Now news has come that Chow has already started shooting A NEW CHINESE ODYSSEY. He is co-directing the film with Kwok Chi-kin (GALLANTS' director), while also acting as the film's producer and screenwriter.
According to reports, Chow was originally planning to play a master monk, but now is likely going to reprise his role as the Monkey King (on the request of the film's investors). Anthony Wong will be playing the role of the master monk instead, while Taiwanese pop star Show Luo will be playing Pigsy. The gorgeous Shu Qi will be starring as the film's heroine.
I think this news is most interesting not only because Stephen Chow is now making a new film and reprising an old role, but of the fact that Donnie Yen is also playing the Monkey King in his upcoming new film (titled THE MONKEY KING).
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Hong Kong's Oriental Daily (Chinese)