That's right, Sega is planning on continuing the story of Shenmue.
Fans have been begging Sega-AM2 to continue the story of Shenmue. The original Shenmue for the Dreamcast captured a fanbase immediately. Sega continued the series on the Xbox, which attracted newcomers and old Shenmue followers alike.
At the beginning of the year Sega had mentioned that they were not sure what direction the Shenmue series would take. There had been speculation that Sega-AM2 would actually just release a DVD movie to continue and finalize the Shenmue story for the fans. That option has been put on the back burner.
Today it was announced that Sega-AM2 is developing a third installment in the Shenmue series. Although no details regarding the storyline, platform or release date have been announced, the game is said to be in development. Sega has stated that they will reveal more details regarding this game in September.
Source:http://www.gamerfeed.com/index.php?story=3810
EDIT:la nouvelle version du site Shenmue.com est disponible:http://www.shenmue.com/