In Shanghai, China in the 1940s, a wannabe gangster aspires to join the notorious "Axe Gang" while residents of a housing complex exhibit extraordinary powers in defending their turf.
 
The fight sequences are amazing.  The visuals are outstanding.  And the entire movie is hilarious.  I love it!
 
FUN FACT:  In an August 2010 interview with GQ magazine, Bill Murray praised Kung Fu Hustle, saying it is "the supreme achievement of the modern age in terms of comedy" and that "there should have been a day of mourning for American comedy the day that movie came out".