[the_seeker]

This genre is a particular favorite of mine so I proffer this advice...

Basic Set and Martial Arts are your indispensable backbone, but if your goal is the truly over-the-top action of the Monkey King, I very strongly recommend you also use Powers (or, at the bare extra minimum, Thaumatology: Chinese Elemental Powers). The abilities routinely displayed by Sun Wukong and his many adversaries are vastly greater than what can be easily and accurately modeled with cinematic skills. Sun Wukong isn't a wuxia hero, he is a god, and he fought other gods in the form of various extremely powerful demons.

What you've referenced as your inspiration isn't wuxia; that genre, while certainly featuring supernatural elements, is much more "earthed" with (for lack of better words at the moment) a "dirtier/grittier" feel. What you've referenced has come to be called xianxia, and it routinely features characters with astounding (and usually very flashy) magical powers (see Ice Fantasy on Netflix for an example). Here's an easy (though not infallible) way to differentiate the two: how do you see the PCs routinely traveling around the setting? If they walk or ride almost everywhere, probably wuxia. If they vault from cloud to cloud, probably xianxia. If they teleport, definitely xianxia.

I recommend 400-point characters (the Monster Hunters baseline) though 500- and even 1,000-point characters would look and feel "normal" in-genre (again, using Sun Wukong as the measuring stick). Anything less would feel underpowered and probably be clunky to build if based on cinematic skills instead of powers.

Example: Rather than spending 44 points to get Power Blow at Will+10 so you can use it instantaneously at Will, then spending 1 point to get the "No Nuisance Rolls" perk so you don't have to roll at all at 16+, then spending another 1 point to get a "Rules Exemption" perk so you can use "No Nuisance Rolls" on a combat skill in combat (and we're not counting the 120 points you spent to get IQ 16 in the first place)... You can just spend 45 points to get Striking ST +10 with the "chi, -10%" power modifier (with GM permission, of course).

Regardless of how you get it done, I wish you much enjoyment in doing it!