Vivi Nevo, of NV Investments, and Chinese actress Zhang Ziyi arrive for the annual Allen & Co.'s media conference Thursday, July 10, 2008, in Sun Valley, Idaho. The couple are engage and plan to wed next year, said Nevo. [Agencies]

Zhang Ziyi has been engaged, according to her fiancé Vivi Nevo who confirmed the rumor on Tuesday, adding that a wedding is being planned for next year.

Vivi Nevo, a low-key billionaire stockholder of Time Warner, made the rarely high-profile announcement while attending the annual conference of Allen & Company in Sun Valley, Idaho, the Associated Press reported.

Twenty-nine-year-old Zhang Ziyi, now largely based in Hollywood, accompanied Nevo to the event.

Despite being a successful business man, Vivi Nevo has always been somewhat enigmatic. His background is not available in details.

The two were first spotted together at an NBA game in January last year. There have been rumors that they had been engaged since this March, indicated by the diamond ring worn by Zhang Ziyi. The engagement was not confirmed by the actress, who told the press in June that she had no plans for marriage.

Nevo was in China with Zhang Ziyi last year when she was filming for Chen Kaige's "Mei Lanfang," and he paid visits to Zhang's parents according to press reports.