First off, you'd have to use Hijack unless the player gets upgraded to Unicode or something.

Using /proc/empeg_notify, you can find the current song playing. Then, a separate program (running in the background, possibly triggered with a button press or something) could use Hijack to take over the display where the text is displayed (or full screen) and display the ID3 tag info for the current playing FID using your Chinese fonts. I don't think you can map specific keys to programs right now, but I think it'd be possible.

This is all hypothetical, but would be interesting to see.