Marvel is said to be fast-tracking a movie based on the character Shang-Chi, aka. the Master of Kung Fu. Shang-Chi is the Chinese hero, who as his title implies, is proficient in the Chinese martial arts. The character first appeared during the early 1970s Kung Fu movie craze (when Bruce Lee was wildly popular) in Special Marvel Edition #15 - Shang-Chi, Master of Kung Fu! by Steve Englehart and Jim Starlin. Shang-Chi was the son of Fu Manchu, but due to licensing issue that may not be the case in the movie.
Deadline is reporting that Marvel has fast-tracked this movie, and has a Chinese-American writer - Dave Callaham - working on the screenplay. Callaham wrote the story and screenplay for 2005's Doom movie, and has also written for The Expendables, 2014's Godzilla, and is working with Patty Jenkins on the screenplay for Wonder Woman 1984. It's also rumored that Marvel is looking for an Asian/Asian-American director for the film (and hopefully the same can be said for the the lead).