Li is the producer of the movie. None of the actors are paid for their roles in the movie, Alibaba said in a Friday blog post.
The 53-year-old Ma said he will make his movie debut as a Tai Chi master. The film will also appear on China's Youku online video platform.
It features a veritable "Who's Who" of Asian martial arts, including Li, Hung, Jacky Wu Jing, Donnie Yen, boxer Zou Shiming, Yuen Woo-ping, Ching Siu-tong, Jacky Heung Cho, Natasha Liu Bordizzo, of Crouching Tiger, Hidden Dragon fame, Thai martial artist, actor and stuntman, Tony Jaa and retired sumo Grand Champion Asashoryu Akinori of Mongolia.
Ma assembled the team to realise his dream of becoming a tai chi master, the company said.