Mild sex scenes but no nudity.
There is a reference to the attractivness of a woman: "There are many of this quality in Shanghai Bund".
There is a female singer, Sheng, on stage wearing a dress that is a little tight, though not revealing. The scene focuses on her lips at the beginning of the song. She is shown later in the movie on stage in a slightly more revealing dress and dancing with other women. The dress covers to her mid thigh and is no worse than what you would see in summer. There is a lot of focus on their bodies, especialy the legs, hips, and breifly the chest, but it flashes rapidly. The scene only lasts for a few seconds. She is seen again in another scene in a dress that reveals some cleavage and more of her legs, though it doesn't focus on them. The dancing girls are shown dancing in multiple scenes afterwards, but not as close as it was in the first scene.
There are implications that Ma is thinking of sexual things as Tei Ju apologizes to him for her rough treatment. He is then scolded by her for those thoughts.
Sheng shown in bed with Long Qi after sexual relations. There are sheets covering most of her breasts, but moderate cleavage can be seen. You also see the mans bare back and chest. At the end of the scene, the man rolls on top of her, implying that they will have intercourse again.
Long Qi is given a pen that has a metal decoration of a woman on it. There are no details of clothes or nipples, but is obviously female.
Ma and Tei Ju are both eating hot dogs in two different scenes, and due to the language, they misinterpret it as genitals.
During the last fight scene, Ma is shirtless.