Woo to Direct Chinese Civil War Film?

While John Woo is in post-production on Red Cliff, his return to Hong Kong filmmaking, Monkey Peaches is reporting he’s considering 1949 as his follow-up:

With John Woo’s mega-budget historical war drama Red Cliff in post-production, title of his next possible project has surfaced online. 1949, according to Sina.com, is about the Chinese Civil War (1946 - 1950). In the year of 1949 is a major turning point in Chinese history, Mao Tze-Tung declared the founding of a new government with the communist-led Liberation Army taking control of much of China, while Chiang Kai-shek’s Nationalist government fled to Taiwan. Woo has been talking with Wang Hui-Ling about the screenplay. Taiwanese woman writer Wang has been involved in many projects by Ang Lee, including Couching Tiger, Hidden Dragon and Lust, Caution.