After finishing his $75 million ‘Red Cliff’ this year, John Woo will go back in time and direct ‘1949.’ It will be a $40 Chinese romance taking place at the end of WWII. John Woo, who made it big with ‘A Better Tomorrow’ and directed box office hits like ‘Face/Off’ and ‘Mission: Impossible II,’ will begin shooting at the end of this year in China and Taiwan.

The script is written by Wang Hui-ling, who also wrote last year’s ‘Lust, Caution’ and fantasy hit ‘Crouching Tiger, Hidden Dragon’ for Ang Lee.