Original subtitles

Created & Directed by WONG KAR WAI

EPISODE 18

SHANGHAINESE KAISEKI

For people to grow,

they need to leave their comfort zone.

Time for new business and new friends.

If The Grand Lisbon can help, just let me know.

I will.

My luck. Give it back.

From now on, Tokyo Nights and Mr. Bao are totally separate.

Will you change the name?

No. I'm keeping it for the memories.

China Macro.

The joy of modern families.

The China Macro water heater

is the country's first water heater approved for consumer use.

Ling Zi,

I found a picture yesterday.

A meal I had with my late wife, made by the best Shanghainese chef.

The best Shanghainese I ever had.

Everything tastes better in memories.

If you had it now, it wouldn't taste the same.

I've had Shanghainese food all my life and it never gets old.

All you need is to find an authentic Shanghainese chef.

Tokyo Nights was never about being flashy.

I like that it's affordable, and feels like home.

Traditions are kept for a reason.

I'm not the same person I used to be,

so Tokyo Nights must also evolve.

What does that old man know?

Shanghainese cuisine is way overdone.

If you ask me, you can charge the most making Japanese cuisine.

With your experience there, you're the best person to do it.

There's this place an older Japanese guy took me to.

It was ¥600 per person.

Throw in a few drinks?

Easily ¥1,000 a head.

Look.

They also made the meal an experience.

The server had a story to tell about every dish.

A bit of change is fine,

but you can't just abandon all tradition.

If we're making changes,

we might as well change the whole thing.

Did you take care of it?

We're all set with the Zhejiang company.

I can't be the face of this.

You'll manage the account.

Any profit goes to the team.

We have some money now,

but we need more to get the upper hand.

I want to play the market a bit.

The market is desperate right now,

don't lose what you already have.

Desperation makes opportunity.

Ask Stamps Li to watch The Grand Lisbon.

To do what?

To catch a catfish.

Everyone was looking for a new beginning,

including the big traders from Shenzhen.

July 20th, 1993

"Market flat, index drops"

The Shenzhen Stock Exchange dropped to the lowest point of the year,

194.7.

Shenzhen's market was in crisis.

Because of their risky financing habits,

many financial institutions collapsed.

Meanwhile, in Shanghai,

many local companies were going public.

They had solid financials, accurate valuations, and great potential.

Shenzhen's players turned their eyes to Shanghai.

The catfish Li Li gave me may have been a hint,

Put on a public display, and then reel in your target.

River fish usually eat grass.

But catfish eat meat.

Some breeders raise salmon alongside catfish

because catfish are aggressive.

"The New Orchid Inn"

The salmon need to swim harder to avoid them.

They grow healthier and fatter.

So Miss Li Li is the catfish of Huanghe Road.

Mr. Bao doesn't just manage exports.

The stock market is risky, Miss Li Li.

That's what makes it the real battleground.

A catfish from Shenzhen took the stage.

"Union Friendship Tower"

Want to take a look?

-Only you have rooms available. -Not true. We're all booked.

Who's that?

What's she doing on Huanghe Road?

Madame, who is that?

It's going to be a fun night.

Who is that?

You don't know her?

That's Ling Zi, Madame of Tokyo Nights.

Welcome.

Madame, Ling Zi is here to have dinner.

Ling Zi,

what brings you here today?

I own a restaurant too.

Can't believe I haven't eaten on Huanghe Road before.

Should have come to see what it's like.

How many in your party?

-Would the Sky Room be okay? -Oh it's just me, no need for a room.

This looks good. I'll just sit here.

What would you like?

I don't need the menu.

Today, I only have ¥500 to spend.

Give me your best specialties,

it's your call.

Your prices can rival The Grand Lisbon.

For just some refreshments, it's certainly pricier here.

You charged ¥500 for a teabag and some pastries?

Why wouldn't I?

-Anything you can't eat? -None.

Great. I'll take care of it.

Tell the head chef to come see me.

Who is that?

How is it?

Satisfied?

Not bad.

You didn't eat much.

You can get this much for ¥500?

Three specialty combos, ¥500 each.

Meaning, here at The Grand Lisbon, this is what ¥500 lets you choose from.

I hear Tokyo Nights is getting revamped.

I'm guessing you didn't come today just to have dinner.

You're spot on.

I wanted to see what ¥500 can get me

at Huanghe Road's most famous restaurant.

Perhaps this isn't a great benchmark.

¥500 on Huanghe Road is different from ¥500 on Jinxian Road.

Well of course.

What you spend on location, rent,

decor, and spectacle,

we'll have to spend on food and service.

Different clientele, different needs.

Those who frequent the Grand Lisbon,

would rarely eat at Tokyo Nights.

You're right.

So there's no conflict between us.

If we made Cantonese food, we could never match The Grand Lisbon.

I doubt that's what you're going for.

Tokyo Nights is small and exquisite.

The Grand Lisbon is grand and extravagant.

Why not open a restaurant on Huanghe Road?

I feel like you were born for this.

I wasn't.

Neither were you.

If there were more options,

few women would choose to be a Madame.

Right?

But since we became Madames,

we must have solutions for everything.

Right?

The meal's on the house.

Consultation fee.

You're more generous than me.

I only treated you to tea.

That's why your business is bigger.

But your business will last longer.

I'm going now.

I'll walk you out.

Captain Cai.

-Captain Cai. -Hello.

No catfish, but the Empress showed up.

Who?

Ling Zi.

She visited The Grand Lisbon.

Li Li attended to her personally.

She's really going to do it without you?

Can she handle it?

She's the Empress of Heaven.

There's nothing she can't handle.

If this becomes a Japanese restaurant, I'm never eating here again.

Shanghainese cuisine is the best.

-Right? -Every party must come to an end.

If you two don't come anymore, so be it.

What are you yapping on about?

If Ling Zi hears, she'll get upset and run away again.

What's wrong with you?

She's been up there for three hours.

She hasn't said a thing.

Could something be bothering her?

Xiao Qin,

what's your Madame doing up there?

-We just hear footsteps. -I don't know either.

Ling Zi, what are you doing?

I'm planning to expand the second floor.

The first floor didn't have enough seats.

But you've never filled the first floor.

-What's wrong with you? -Watch it.

That's in the past.

From now on, we'll fill every seat.

Two nights from now, we'll have a tasting.

Dress up.

"Shanghainese Cuisine"

Abalone, croaker, shad.

This is expensive stuff!

What are you doing?

The new dishes need the best ingredients.

I can't afford to just give these away.

I'll pay you.

From now on, we keep proper accounts.

You ensure quality. I'll pay every cent.

The Madame wants to borrow something.

What is it?

Thank you.

Antiques.

-Thank you, Mr. Ge. -Be careful! Those are worth a lot.

-I know. -They were my late wife's dowry.

Why are you dressed like this?

All professional chefs dress like this.

What kind of cuisine is this?

A fusion of Shanghainese and Japanese.

I call it Shanghainese Kaiseki.

Shanghainese Kaiseki?

Who thought of that?

I did.

Why not wear your own clothes? _They were nice.

You were a nice view on Jinxian Road.

Out with the old, in with the new.

"Appetizers"

Sakizuke (Appetizer) Preserved Egg with Ginger

Shiizakana (Main Course) Steamed Shad with Rice Wine

Agemono (Fried Course) Duck Tongue Tempura

Takiawase (Braised Course) Cherry Blossom Pork

My wife's cooking is coming back to me.

Futamono (Steamed Course) Shanghainese Chawanmushi

It's like steamed egg, this "chawanmushi."

She's incredible.

How does it look so pretty?

It does look nice,

but

it still doesn't taste as good Eas the old Tokyo Nights.

Tome-Wan (Soup) Wensi Tofu

Sure...

the quality has improved, but the personal touch is gone.

Another bowl!

How is it?

Do you like it?

It's amazing.

Can't you do simple math?

It's ¥600, ¥200 per person. I'll pay you back later.

-Sure. -It's ¥600 per person.

¥600 per person?

No need, it's on the house.

You're making us feel bad, treating us to such an expensive meal.

How could you?

You can drop the act.

The ingredients aren't too expensive, but it's very labor intensive.

But regular people won't come here to eat.

That's right.

We'll serve dinner to tourists and out-of-town visitors.

And have set lunch specials for businesspeople.

Tourists. Very good.

How did you come up with this?

I told you.

If I just use my head a little,

no one on Huanghe Road can keep up with me.

Right.

What?

You don't believe me?

Xiao Chen, you need to move back out there. Miss Wang is returning.

-We're switching our seats back. -Okay.

Don't bother. Xiao Wang quit.

What is it?

Chief Jin, I wanted to ask you.

Is she really not coming back?

She turned in her resignation letter.

In that case, could I have the opportunity

to apply for section chief?

I may be younger than her, but I've been here for longer.

I get that she was the most suited to be section chief,

since she had Mr. Bao on her side.

But now I know Mr. Bao too, and I'll make sure it goes well.

Miss Wang broke the rules, so I wasn't going to cover for her.

She needed to face some consequences.

I do things by the book, but don't think I'm not aware.

I once thought highly of you, but you lack patience.

You still have a lot to learn before you're ready to be section chief.

Who will replace you then?

If you're going abroad, someone has to take your place.

That's none of your concern.

Since there's no one suitable,

I'll just stay around for a while.

You rushed it.

Rushed it?

I've been there longer than Miss Wang.

Now that she's gone, shouldn't I become section chief?

Don't just look at your grievances, and overlook your privileges.

You work at No. 27.

That position commands respect.

But you need to know how much respect is for No. 27

and how much is for you.

One day,

when that respect is all yours,

that's when you've made it.

Here.

Go to Xinhua Bookstore.

Read this before making any decisions.

Important matters take time.

"How the steel was tempered"

An investor gathering?

I'm inviting former clients and partners out to dinner

to announce I'm starting my own business

and to ask for their support.

From Miss Wang.

How many did she invite?

Over 40 people.

But there might be more that show up.

Some of my father's friends are very supportive.

Originally,

I thought my father would be furious.

Instead, he encouraged me to be bold.

Even gave me the money for this dinner.

People out there are voyeurs.

They open their mouths

and promise all sorts of things.

But you need to know

how much Miss Wang is worth without No. 27.

I understand.

Before I made the calls, I was actually quite worried.

I thought they'd reject me so as to not offend the Trade Office.

As it turned out, they were all excited for me.

They value my ability over my position.

Besides, with this setup, No. 27 is still involved,

and everything I do still serves the Trade Office.

As long as you're not using our funds,

we can probably make it work.

Did they ask if you have co-founders?

I explained this very carefully.

It's just me.

Mr. Bao is not a part of this.

But the business model remains the same.

Where is the event?

At The Grand Lisbon.

The Grand Lisbon?

Why?

They said there's no place for me on Huanghe Road.

So I'll carve out my own place.

Xiao Wang,

you're just starting out,

so here's a word of advice.

Your passion can burn hot,

but your head has to stay cool.

These people just say whatever.

They're full of empty promises.

All talk, no action.

Someone already called to ask

how involved you are in her company.

What did you say?

The truth.

Big waves make big fish.

This venture is a sign of her resolve.

I have to support her.

How?

Spiritually, I guess.

Tomorrow night, you and I will eat here.

Sure.

I'll get takeout from Guang Ming Cun.

Mr. Wei,

long time no see.

Don't you feel hot?

You're sweating.

The doctor told me to keep warm.

Are you sick?

Me?

Last month, I was out here in the rain.

I caught pneumonia.

Still haven't recovered.

Is Xiao Wang here?

Xiao Wang?

She left two weeks ago.

What?

Xiao Wang!

You can't escape!

I'll follow you to the ends of the earth!

Mr. Wei,

I wish you good luck!

Thank you.

This room is too small.

Once everyone comes, I'm worried we won't fit.

How about this?

-Can you reserve three rooms for me? -You're expecting that many?

Yes. And I even cut back.

I only invited people I'm closest with.

Any more and some of them would have to eat standing up.

I got the side dishes here.

This many?

Treating you to Guang Ming Cun is worth a splurge.

I even got a bottle of yellow wine.

Want some?

Sure.

So you're staying in tonight?

Didn't you suggest this dinner to make sure I stay put?

What if nobody shows up to Miss Wang's event?

You underestimate her.

Regular fried prawns can't compare to these from Guang Min Cun.

Likewise,

Miss Wang on her own can't compare to Miss Wang of No. 27.

Good thing we only reserved one room.

If no one comes soon, should I release the room?

No.

Let's show Miss Wang some respect.

People out there are voyeurs.

They open their mouths

and promise all sorts of things.

But you need to know

how much Miss Wang is worth without No. 27.

These people really are cold-hearted.

Since 5:00 pm, only one person has showed up.

Who?

Mr. Wei.

Ladies and gentlemen,

Miss Wang from No. 27 on the Bund is hosting her first event here,

seeking investors for her new business.

You don't want to miss this.

If you miss it, you'll regret it.

-Hey, mister. -Hi, Mr. Wei.

-Interested in a special event? -We're busy.

Hey, got a spare moment?Cloth

I'm in a rush. Maybe next time?

Next time? There won't be a next time.

-Hi, Mr. Wei. -Miss Xue, check this out.

-There's a special event upstairs. -Sorry, maybe another day.

Of course.

Mr. Wang? Is that you?

Excuse me. I have somewhere to be.

I'll be back later.

Okay.

Mr. Wei.

Great.

Come out.

Mr. Fan, did you just get here?

I got here a while ago.

Really?

Look at you.

You're sweating.

I'm helping advertise for Miss Wang.

Why didn't you go upstairs?

I did.

There was nobody there.

Going in felt awkward, leaving felt bad.

So I've just been pacing around.

Since when were you so timid?

It's not about being timid.

Going alone is just too much pressure.

Why'd you only get here now?

What do you mean? I've been here since 5:00 p.m..

-While you paced outside, I paced inside. -I didn't see you.

If you were scared to go alone, we could have gone together.

At least we can help her save face.

Miss Wang.

I'm sorry to waste your time today.

Please charge me full price for the room.

Any dishes you haven't started on you can cancel.

Should we wait a bit longer?

No need.

If no one's here by now, then no one's coming.

This way, Mr. Wei.

Miss Wang.

Mr. Wei?

I'm here.

I didn't invite you.

Why are you here?

Miss Wang.

Mr. Fan.

I'm here too.

Mr. Fan.

Miss Wang,

Mr. Wei's been here since 5:00 p.m..

Yeah, he was downstairs,

acting as a greeter for you.

I'm just helping out a friend.

There's no one here to greet.

Party's over. Go home.

No one?

There's a whole crowd downstairs.

Right, Mr. Fan?

Right.

There's a crowd wherever Mr. Wei goes.

Mr. Fan, I know no one was there.

You don't have to console me.

From the start, I wanted to see how many people would show up

just for me, Wang Mingzhu. Not for No. 27, not for Mr. Bao.

To be honest, they were all stopped by Mr. Fan.

He said that you two are close,

and he wants to be your sole business partner.

However...

However, I'm no match for Mr. Wei.

Mr. Wei is young, accomplished, and very capable.

Right?

Right, I won't be modest then.

What you need is quality, not quantity.

Say you get a dozen small investors.

Their capital is limited, and there will be disputes.

What good is that?

Better to have a single partner, a business mogul who can handle it all.

Like me.

Excuse me.

Mr. Wei, someone drove your car away.

Who?

Your father.

Be right back.

Dad.

Dad.

Wait!

The car!

What's going on?

It looks like his father was worried

he would sell the car for a woman.

I understand.

The car was his dad's, not his.

Miss Wang, don't listen to Mr. Wei.

He's unreliable.

Miss Wang,

I'll be honest.

I can understand why you didn't go back--

Mr. Fan,

will you support me?

We're friends.

Of course I'll support you.

But starting from scratch isn't easy.

If you told me today you need 20 or 30 thousand in cash,

I'd wire it to you right away.

No need to pay me back.

But if you're starting a new project, you might need a couple million.

I can't help there.

My factory has money, but it's not mine to use.

If it were my personal money, I wouldn't even bat an eye.

I'd use it to support you.

Mr. Fan, no matter what,

you showed up today.

I'm grateful to you.

What I'm trying to say is,

a rookie's path is full of traps.

The treacherous path ahead is longer than Nanjing Road.

What's worse, you don't even know who's laying the traps.

You were at No. 27 for a long time.

I'm sure it was comfortable.

I'm not trying to dissuade you,

but maybe your true calling is still section chief.

Since I've already left,

there's no way I'm going back.

What if nobody wants to partner?

Then I'll do it myself.

What about the capital?

I'll think of something.

There is always a way.

Okay.

Tell him that he has five minutes to return the car,

or I'll stop being his son.

Mr. Wei, it's been half an hour. Would you like to sit inside?

No. He's only getting five more minutes.

That old man is out of his mind.

Miss Wang, you're leaving?

Goodbye.

Sorry I couldn't help you today.

But I believe in the saying,

"Gold is destined to glitter."

You're gold?

I'm gold.

And you're a diamond.

We both just need a chance to prove it.

He can take back his sports car,

but he'll lose his winning horse.

You want to do business?

Of course.

Money is not a problem.

The problem is I have no money.

I have to start from scratch too. You willing to try?

Too tedious.

I'll find someone else then.

Wait, what?

What were you talking about?

You meant start a business with you? That I can do. That's not tedious at all.

It's a deal. Don't look anywhere else.

Think it through. Come find me tomorrow.

I've thought it through, Miss Wang.

We can start right away.

It's a deal, okay?

Starting from scratch? Easy!

Miss Wang,

I do!

Was that your boyfriend proposing?

How fun!

Wait, why was he saying, "I do"?

Nonsense. Drive faster please.

Mr. Wei, here are your phone and wallet.

Manager Pan, tell everyone I'm buying them dinner in a few days.

Miss Wang and I are together now.

What do you mean "together now"?

It means we're pairing up.

We're tying the knot to do business together!

Lucy, you let people know too!

Okay.

Starting from scratch? Why him when even I could do it?

Would you say that in front of Miss Wang?

Today is the best day I've had on Huanghe Road!

Shameless.

Got it.

Miss Wang found a business partner.

Mr. Fan, I assume?

The "Mink King," Mr. Wei.

What?

The market is only so big.

We compete with our peers.

Your newest opponent is Miss Wang.

If you were still on top,

you could give her some ground.

But you're on the back foot now,

and you can't afford to give an inch.

Any appetite left?

Yes.

From here on out, "ribs and rice cakes" is no more.

Uncle Ye, you misunderstand.

Between Miss Wang and I,

fried ribs with rice cakes were never about business.

See you at the usual spot.

Oh, Mr. Bao.

Hello.

Hi, Mr. Bao.

Been a while, Captain. Upstairs.

-Qiang Mujie is in Shanghai. -About time. It's been two months.

Everyone's heard of SITI. Time to see if they live up to their reputation.

SOUTHERN INVESTMENTS (SITI). SHANGHAI HEADQUARTERS

Mr. Qiang, long time no see.

Lots of companies are issuing more shares.

Probably reacting to his arrival.

From the way the wind is blowing, the age of corporate trading is coming.

individual traders will have to look out.

We've planted an informant there.

We're down ¥4.5 million on the year.

We lost ¥2.5M on our own trades,

the rest from an overdraft by our clients.

There are four months left in the year.

How will you break even?

In stocks...

If you can't profit going long,

then profit by going short.

We hired you because you're the cream of the crop.

You're not here to run the old playbook.

This Shanghai branch was started by Mr. A and me in 1991,

with just ¥100,000

and an approval letter from People's Bank.

We started from the bottom,

and carved out a place of our own in Shanghai.

It's not like they're unbeatable.

Everyone has their turn.

No flower exists that blooms forever.

Have you approached The Club yet?

Why would I?

At the beginning, the market was just a puddle.

Now it's the size of a swimming pool.

More and more outside companies will come into Shanghai.

When that happens, the pool becomes a river, then an ocean.

They can't monopolize it all.

Our conditions are still the same.

Do what no one else has done before.

Make the money no one else dares to make.

The market's there for the taking, with only two players.

A winner, and a loser.

Either I win, or he loses.

We're not here to make friends. Why play nice?

Memorize this number.

Once you leave this room,

pretend you never saw it.

We'll follow the lead of Shenzhen HQ. The goal is to push it up to ¥30.

We are the vanguard.

Gather the funds and prepare to strike.

Let's turn this year around for the Shanghai branch.

We follow a simple rule.

Help the company and you'll be rewarded.

But,

jeopardize the strategy, and you'll be punished.

For the time being,

we'll pull back a bit and gather information.

When he makes his splash,

we'll be ready to ride the wave.