An exploration of Chinese cinema and its relationships with gender and sexuality, which the film argues has been more frankly and provocatively explored than in any other national cinema. Utilizing both film excerpts and interviews with many leading directors and academics, the film examines topics such as male bonding in kung fu movies, depictions of same-sex bonding and physical intimacy, the emphasis on women's grievances in melodramas, and the career of Yam Kim-Fai, a Hong Kong actress who spent her life portraying men on and off the screen.

At the end of the 19th century, Shanghai is divided into several foreign concessions. In the British concession, a number of luxurious “flower houses” are reserved for the male elite of the city. Since Chinese dignitaries are not allowed to frequent brothels, these establishments are the only ones that these men can visit. They form a self-contained world, with its own rites, traditions and even its own language. The men don’t only visit the houses to frequent the courtesans but also to dine, smoke opium, play mahjong and relax. The women working there are known as the “flowers of Shanghai”.

A couple working in a chemical factory inexplicably die after the birth of their son. Then, the baby appears to cause the death of the pets of his adoptive family. When he is isolated for study, he is shown to be aging and growing rapidly, and to have highly toxic saliva.

In 1936 China, a nearly bankrupt drama troupe starts performing in a burned-out theater where the great actor Song Danping was killed. One of the actors, Wei Qing, starts seeing strange apparitions that could revive his troupe and deliver him to the same fate as Song Danping.