The film starts in Paris, where King Kong (Sam Hui) is recruited by Elizabeth II and a James Bond-like character to retrieve one of the Crown Jewels which has been stolen and is located in a Hong Kong Police Headquarters vault.

Richard Kiel spoofs his role as "Jaws" from the James Bond film series.

[2][3] These include Peter Graves from the Mission: Impossible television series and Richard Kiel who played Jaws in The Spy Who Loved Me and Moonraker.

[2] Allmovie gave the film three stars out of five, noting that the plot for Aces Go Places 3 was "stronger than usual for the series" and "that film's juvenile sense of humor might put off viewers in search of more sophisticated fare, but many others are likely to find the movie too colorful and exciting to be denied.

"[3] John Charles, author Hong Kong Filmography 1977-1997 awarded the film a six out of ten rating finding the scenes involving Sylvia Chang and Karl Maka were "tiresome and consist almost exclusively of situations from old sitcoms".