Might & Magic MMORPG in China

GameSpot is reporting that Ubisoft and TQ Digital Entertainment will be deveoping a Might & Magic MMORPG for the China market. Oddly, their report is actually titled "Heroes of Might & Magic", so I'm not sure which franchise will actually go online. Regardless, let's hope it sees other regions so more of us can get a chance to try it out. A snip from GameSpot's newsbit:
In America, 2004 has seen the cancellation of many high-profile massively multiplayer online role-playing games. Ultima X: Odyssey, Mythica, Warhammer Online, have all fallen under the axe.

However, across the Pacific, a classic role-playing game with more than a dozen sequels is about to be reincarnated as an MMORPG space. At a press conference this week in Shanghai, Ubisoft China and game developer TQ Digital Entertainment said they had inked a deal that will see an MMORPG based on the Might and Magic franchise reaching Chinese gamers in 2005. A worldwide launch is also being considered.