2000's 'Crouching Tiger, Hidden Dragon' was a huge crossover success, netting $128 Million at the box office, and four Oscars, including best foreign film. As it was based on a series of books, the only surprise about the news that a sequel is being readied is how long it took to happen.

But it seems The Weinstein Company are out to finance a sequel, and they have a script readied and director Ronny Yu is currently circling the project. Yu - like many of his Hong Kong colleagues - worked in America for a couple of years after the handover of Hong Kong to China and while here helmed the horror films 'Bride of Chucky' and 'Freddy Vs. Jason' (among others) before returning back to his country.

Ang Lee currently has no involvement in the project and is unlikely to return, while there is no word if any of the actors from the previous film will return as casting hasn't been finalized. This news comes from Deadline Hollywood, who note that this new film is based on the fifth book in the Crane-Iron Pentalogy by Wang Du Lu, 'Silver Vase, Iron Knight.' As 'Crouching Tiger' was the fourth book, this then would be a direct sequel. There was once word some of the earlier books would be adapted, but that never came to pass.