Long Tale's Harry Sutherland put the package together with US MoviePlus, the LA-arm of worldwide film finance entity set up by Stuart Little producer Steve Waterman and Chris Brough, founder of Vancouver's Mainframe Entertainment.
Sutherland will produce alongside Tiger Hu of Hengdian.
Donald Martin's screenplay tells the WWII-set story of San Francisco Chinese businessmen who seek out the pilot of the titular flying boat to smuggle $10m to their compatriots back home.
The film will shoot in Hengdian's sprawling studio campus, the largest in China and home to such productions Marco Polo, Hero, Promise, Crouching Tiger, Hidden Dragon and Forbidden Kingdom.
Speaking exclusively to Screen International, Sutherland said production is set for Autumn 2008.
As well, Long Tale is packaging the Canada-Australia Dolphin Dreams, written and to be directed by Monika Mitchell. Sydney-based Global Entertainment Media will co-produced the $6m family drama. The story follows a young boy who lives dreamworld of dolphins to escape his parents' divorce.
As well Mitchell and Sutherland will produced Canadian actor John Cassini's Four Walls, co-written with Benjamin Ratner.
Budgeted at $3.1m, the coming-of-age story follows a promising athlete's dreams of breaking free of the criminality of his peer-group. Christal will distribute in Canada. Backers include Telefilm Canada, BCFILM and Movie Central.