Shanghai-based Pearl Studio, formerly Oriental DreamWorks, is teaming with Kung Fu Hustle and The Mermaid director Stephen Chow to develop an animated feature The Monkey King based on the popular Chinese legend. Chow’s involvement was announced today at animation festival Annecy in France and represents an exciting…

Stephen Chow's The Mermaid on Friday became the highest-grossing movie ever in China. Coming off of a Lunar New Year debut February 8 that saw it break records for first-day gross of a Mandarin-language film, the estimated 2.49B yuan ($382M) box office through Friday takes it past last year's Monster Hunt, at about…