Reportedly---
Andy Lau’s character will be an OLD FRIEND OF TONY STARK’S that represents China’s technology sector – and will use China’s armored heroes to HELP Iron Man defeat “The Mandarin” who is seen as a terrorist against both the US and China.
Neonpunch goes on to report that Kingsley could be playing the leader of "a group called The Mandarin" who are the masterminds behind a global chain of events that set off a war of Iron Men.
Previous comments from director Shane Black about how The Mandarin is a "racist character" and that the film will be a "technological thriller set in the world of international war, arms and terror" lines up perfectly with what Neonpunch reports.
Also lending credence to this report is Marvel's decision to co-produce IRON MAN 3 in China which has a well known stringent censorship policy that does not allow unbecoming deceptions of Chinese in Western films [See Chow Yun Fat’s pirate character being completely cut out of “Pirates of the Caribbean: At World’s End”].
Iron Man 3 is expected to begin shooting in the coming weeks, actor Robert Downey Jr. (RDJ) has already been spotted in North Carolina.
RDJ can next be seen in The Avengers, opening May 4th in the United States.
The Mandarin is a fictional character, a Marvel Comics supervillain and the archenemy of Iron Man. The Mandarin first appeared in Tales of Suspense #50 (February 1964), written by Stan Lee, who created the character, and illustrated by Don Heck, who initially designed the character. The Mandarin is referenced in the 2008 live action Iron Man movie via the name of the terrorist group called "The Ten Rings", who holds Tony Stark captive in the beginning of the film. Raza, the leader of the Ten Rings, has a single red ring that he rubs with his other hand. He also makes a reference to Genghis Khan when speaking to Stark and Yinsen. Director Jon Favreau revealed that their version of the Mandarin in the live action Iron Man movie series "allows us to incorporate the whole pantheon of villains" After the successful release of Iron Man 2, Favreau stated that he hoped to include the Mandarin himself in an Iron Man 3 project.