The article located here states:
Co-produced by Paramount, China Movie Channel and Jiaflix Enterprises, Transformers 4 will be partly shot in China and is slated for an opening on June 27, 2014.
The show is set to commence broadcast in China in June 2013, with a panel of judges comprising Sid Ganis, the former head of the Academy of Motion Pictures Arts and Sciences and the current chairman of Jiaflix; the film’s producer Lorenzo DiBonaventura and casting director Denise Chamian; Paramount’s marketing and distribution chief Megan Colligan.
The film’s Chinese backers will be represented by Jia Qi, deputy director of the film’s Chinese co-producers China Movie Channel; and Liang Longfei, vice-president of m1905, the channel’s portal through which contestants (who need to be over 18) can register for the show.
Producers said the four winning contestants will join “a number of talented Chinese actors and actresses” in Transformers 4. The third film in the franchise, Dark of the Moon, generated $165 million in China, and stands fourth in the country’s overall box-office rankings behind Avatar, Lost in Thailand and Journey to the West: Conquering the Demons.
Transformers 4, which hasn't been given an official title, yet, will see release on June 27th. 2014. Until then hit up the movie forums and discuss what's coming with the rest of us!