Chan revealed the possible venture in a blog entry on his official Web site Tuesday.
"The whole idea of this company is for China and America to cooperate so I can make American films in China and Brett can act as my consultant, giving me advice, and deciding whether or not the film would be suitable for the American market," he wrote, adding that Ratner may also scout for new directors.
Chan said the quickest way to set up the new company, which he said would be called "Chan Ratner Company," was for the two filmmakers to shoot another movie together.
Solon So, senior vice president of Chan's company, JC Group, said the two partners haven't agreed on any specific projects.
Ratner didn't immediately reply to a reporter's e-mail seeking comment.
Chan recently finished shooting the Hollywood movie "The Forbidden Kingdom" in China , which marks his first on-screen collaboration with fellow action star Jet Li.
Chan called Ratner a "very smart director" and "very quick learner."
He said earlier Ratner had matured as a director between the second and third "Rush Hour" installment.
While filming the third installment, "he knows which camera angles he wants to use and he has complete control of the set," Chan said in his blog at the time.
The "Rush Hour" series, which stars Chan and Chris Tucker, is a career milestone for both Chan and Ratner.
The first installment, released in 1998, was the first movie to break US$100 million ( EUR 68.2 million) at the U.S. box office for both filmmakers, according to figures compiled by the box office tracking Web site Box Office Mojo.
The trilogy has made a combined US$507 million ( EUR 346 million) so far, according to Box Office Mojo's figures.
Since the success of "Rush Hour," Ratner went on to direct "Red Dragon" and "X-Men: The Last Stand."