Shanghai Drama was originally released in France in 1938 under the title Le Drame de Shanghai. Director G. W. Pabst, best known for the erotic classics Diary of a Lost Girl and Pandora's Box, seems artistically subdued in this standard tale of pre-WW2 intrigue. The villains are the Japanese, who inveigle a group of exiled White Russians to aid in the subjugation of China. Trapped in the web of deceit is nightclub chanteuse Kay (Christine Mardayne), whose efforts to break away from a sinister Black Dragon-like society are doomed to failure. The film's only ray of hope is manifested in the character of Kay's daughter Vera (Suzanne Dempers), who is afforded the opportunity to start life anew with journalist Franchon (Raymond Rouleau).