Zhui ji

Slash: Blade of Death aka Shanghai Killers aka The Chase is an early Golden Harvest film with above average gore and swordplay. It was released to VCD in Hong Kong in 2007, but is also available as a Region Free NTSC Special Edition DVD. Search for the website thekungfurobberfilms

There is no such thing as a regional coded VCD. Back in the late 90's and early 00's, their main appeal for martial arts fans was that VCDs have no region encoding whatsoever and do not even require DVD playback software; any computer with a CD-ROM could play them. The format was admittedly short-lived in the USA, but in Asia, including China, Hong Kong, Thailand, Malaysia, Singapore, India and Turkey, among others, they were huge, and are still released for commercial sale to this very day.

In the early 00's not many Americans had multi-region DVD players, so VCDs were very appealing. I have over 400 of them myself, and yes, I can play them on my Windows 10 Dell PC and on my Toshiba region-free Blu-ray player, as well.

There's an excellent web page about the VCD format. Look for a site called The Gweilo's Guide to Hong Kong Chinese Movies, and in the What Do You Want section in the right column, click on VCD. Otherwise, in the Archive section a little further down, select October. It's the fourth article.