Produced by Wong Kar-Wai and brimming with parodies of scenes from his films, director Jeff Lau’s sterling entertainment is the Chinese equivalent of a panto. An imperial princess (Faye Wong) sneaks out of the Forbidden City in male drag and falls for the notorious bandit King Bully (Tony Leung), but cannot reveal her identity or even her gender. Complications ensue, some involving his sister and her brother. Rapturously funny, impossibly romantic—and, in its punch line, genuinely radical.