The film was based on the fourth novel in a pentalogy, known in China as the Crane Iron Pentalogy, by wuxia novelist Wang Dulu. The martial arts and action sequences were choreographed by Yuen Wo Ping.
The title of the film is a Chinese proverb that refers to the hidden mysteries and qualities underneath a person. The name "Crouching Tiger Hidden Dragon" is a literal translation of the Chinese proverb "卧虎藏龙(wò hǔ cánɡ lónɡ)" which refers to the mysteries (or hidden talents, undiscovered talents) that lie beneath the surface of an otherwise normal-looking individual. wheras the first part of the film takes place in society restrained by law and order, the second part, including the flashback scene, occurs in the world of individuals and thus the characters seen in the first part of the film are revealed in their true form.
Made on a mere US$17 million budget, with dialogue in Mandarin, Crouching Tiger, Hidden Dragon became a surprise international success, grossing $213.5 million. It grossed US$128 million in the United States, becoming the highest-grossing foreign-language film in American history. For 2000 as a whole, the film would cumulatively rank at a worldwide box office performance position of 19.
It has won over 40 awards. The film won the Academy Award for Best Foreign Language Film (Taiwan) and three other Academy Awards, and was nominated for six other Academy Awards, including Best Picture. The film also won three BAFTAs and two Golden Globes, one for "Best Foreign Film" as well as additional nominations for ten BAFTAs including "Best Picture".
