UPDATE: Crytek has taken it all back in a second press release, saying they're sorry to get everyone's hopes up but Monster Hunter Online is only confirmed for China yada yada.
According to a Crytek Press Release (excerpt below) emphasis mine:
Crytek’s groundbreaking CryENGINE® technology is being used to create Monster Hunter Online; a major new collaboration between Tencent Games and Capcom that will see the popular Monster Hunter series released internationally on Windows platforms for the first time.
“The Monster Hunter games are known for immersing players in breathtaking worlds where great gameplay and spectacular sights go hand in hand,” said Areil Cai, Director of Business Development - CryENGINE. “CryENGINE 3 is the perfect fit for the series, and will ensure Tencent Games and Capcom are well equipped to make Monster Hunter Online the groundbreaking MMORPG experience fans worldwide are eagerly anticipating.”
With over 20 million sales to date, Capcom’s Monster Hunter series enjoys huge popularity in Japan and boasts a growing army of followers around the globe. Monster Hunter Online will be developed for the international market by Tencent Games and Capcom, and marks an exciting new era for a series that has enjoyed critical praise to match its popularity with players.