As for the upcoming film:
Wong Kar Wai took a long time in between film releases to work on his last film The Grandmaster, but it seems he's quickly decided to begin work on his next film.
His plan is to do an adaptation of a short story from the collection called I Belong To You by Chinese author Zhang Jiajia.
According to Kevin Ma (writing for Film Business Asia):
"Wong's film is an adaptation of the chapter called 擺渡人 (literally Ferryman), about an affair between a girl and a married artist in Changchun."I Belong to You is a collection of 38 different chapters worth of short love stories that, in addition to being printed in the collection, have been posted on Chinese microblogs. Sadly as much as I've searched I cannot find an English translation of the book or it's individual stories.
Kevin Ma's post also makes mention of the fact that an announcement had been made that Wong Kar Wai was set to begin shooting a romance film in 2015, but there doesn't seem to be any indication as to whether or not that story and this one are related.
Wong Kar Wai is no stranger to making short films. He's made a quite a number of short films, as well as a couple of short segments that have been apart of a "collection film." The announcement says he's adapting a short story from a collection stories, so we can't rule out the possibility that it's another collection film in which he's only directing one segment. Either way my hope is that he's turning it into a feature length film.
Having said all of this I hope you'll be back to read my series of post as I go through as many of Wong Kar Wai's films as I can get my hands on.