Crouching Tiger, Hidden Dragon Prequel?

A rumor is flying around that Ang Lee is making a prequel to "Crouching Tiger, Hidden Dragon" this summer in the Yunnan Province of south western China. The rumor was posted on MonkeyPeaches that is citing an article from a Chinese newspaper Yunnan Information. The prequel is about the story of young Li Mu Bai and young Yui Hsui Lien, played by Chow Yun-Fat and Michelle Yeoh in "Crouching Tiger, Hidden Dragon".

Crouching Tiger, Hidden Dragon was first screened to much acclaim at the 2000 Cannes, Toronto, and New York film festivals and became a favorite when Academy Awards nominations were announced in 2001: Tiger snagged ten nods and later secured four wins for Best Cinematography, Score, Art Direction, and Foreign Language Film.

Source: MonkeyPeaches