Continuation of the first movie, Lord of East China Sea. The movie starts in 1936, at the height of Lu Yun Shan's (Ray Lui) power. He, Huang (Kent Cheng) and Yuan (Elvis Tsui) are the three big tycoons of Shanghai. The movie concentrates mainly on the Japanese takeover of Shanghai and where the loyalties of the three big tycoons, specifically Lu's, lie.

There are very very few movies where the sequel is as good as the first movie, and this is certainly no exception. There are really no events that are that compelling, surpriisng, or dramatic.