This is definitely one of my favorite Chinese films - and I've seen many.
It's a simple story, beautifully told, about complex characters. Each of the quirky characters is beautifully drawn, and their goals and relationships skillfully interwoven.
Never is the storytelling compromised for a cheap laugh. The cinematic language seems to draw it's influences from the stage and silent films and bold cinematic risks are taken that all work.
I appreciated the intimate insight into the workings of relationships (guanxi) between men. They trade cigarettes, favors and gifts constantly - in exactly the way I've read happens in industrial towns. But the film explains this fascinating flow of goods and services inside private relationships with unselfconscious authenticity.
For me the biggest highlight - and what really elevated this film to the realm of 'all time best' - was the use of Russian elements in the score and narrative. China's relationship with Russia is so complex and interesting and standing shoulder to shoulder like old comrades, they were nothing short of perfect.
For anyone with a genuine interest in China I highly recommend this film.
Tara