The story is about a fisherman's family living near to Shanghai. In the beginning, twin babies are born, a boy and a girl. Their growing-up is briefly sketched, and their friendship with "young master", a boy from rich family about their age.
A wife borrows a necklace for a party, and it is subsequently stolen. Her husband embezzles funds to pay for the loss, but he is discovered and arrested.
A Chinese couple in the 1930s struggle to survive. Things get complicated for them when he enlists to fight the war against Japan.
