The first Ang Lee film I’ve liked without much qualification (2000). It’s also the most exuberant action movie in ages, thanks to the choreography of Yuen Wo-ping and the powerhouse cast of Chow Yun-fat, Michelle Yeoh, Zhang Ziyi, and Chang Chen. There’s an undeniable lift to watching the young girl Zhang wipe out the ruffians who go after her, while the affectionate references to King Hu’s The Fate of Lee Khan (among other Hong Kong action touchstones) also add something flavorsome to the brew. Adapted by James Schamus (one of the executive producers), Wang Hui Ling, and Tsai Kuo Jung from Wang Du Lu’s novel of the same title, this sincere and magical fairy tale might be self-consciously celebratory at times (it’s Ang Lee’s homecoming movie, his first Asian film since Eat Drink Man Woman), but it still succeeds in putting the same spirited spin on martial arts that Singin’ in the Rain did on early Hollywood. In Mandarin with subtitles. 119 min. (JR)