Kennedy made the announcement Saturday while delivering a keynote address at Beijing's Chinese National Convention Center, The Hollywood Reporter said Sunday.
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Former Academy of Motion Pictures head Sid Ganis and producer Lorenzo DiBonaventura will lead the talent show's judging panel, as Chinese contestants vie for four roles in the film.
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A collaboration with the Beijing Film Academy, the "training-networking event" will be unveiled during the Chinese capital's upcoming film market.
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Chinese films feature great originality and imagery, special effects artist Richard Taylor said at the ongoing third Beijing International Film Festival.
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The new venture – called Song Lin – aims to create co-production opportunities for Chinese producers, export Chinese film and TV overseas and improve the standard of media production in the country.
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IMAX Corporation and the TCL Chinese Theatres announced that the landmark is set to receive an IMAX screen this summer, making it the world's largest IMAX auditorium.
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