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The song, titled "Olympics Beijing," is separate from the official theme song for the 2008 Games, the assistant, who only gave her surname, Lam, told The Associated Press.
She said the Mandarin-language song, written by Eddie Ng, will be aired in China. It was unclear if the song would be released on CD.
Lam said Chan has signed on for the project but hasnt recorded his part yet. Others who have already completed their portions are Lau, Tam, Hacken Lee, Shirley Kwan, Andy Hui, William So and Jordan Chan, she said.
Other big names in the entertainment industry are involved with the Beijing Olympics, a major source of pride for the Chinese.
Famed Chinese director Zhang Yimou will oversee the design of the opening and closing ceremonies. American director Steven Spielberg has also signed on as a consultant for the two ceremonies.