Painting on silk

Have a much-loved family friend who would like to get some info on a painting she has. She got it from her FIL decades ago.

All I could tell her is that it's painted on silk, but other than that I'm no help to her. The painting is rather large (at least 4' long). I only have these two pics, but I can get her to send some more if it will help. It's just a little hard for her to manage the painting due to it's size. The scene is on the right side of the painting and the writing is on the upper left. Does anyone know what story this is supposed to represent or what the writing might say?

 

It is lovely, Chinese.
@Asian Fever, any ideas? I am leaving the hard part to you again.