Shadows Over Shanghai is a 1938 American drama film directed by Charles Lamont and starring James Dunn, Ralph Morgan, Robert Barrat, and Paul Sutton.

Set in Shanghai during the Second Sino-Japanese War, the plot centers on the efforts of Japanese and Russian espionage agents to get their hands on an amulet which is the key to a $5 million fund meant to help China purchase munitions.

Badly wounded, Peter entrusts Irene with a broken amulet that he needs to get to San Francisco; the other half is being held there, where the two halves will unlock $5 million to be used for the purchase of munitions for China to defend itself during the Second Sino-Japanese War.

Back at the hotel, a wedding present, a Mandarin incense burner, is delivered from Lun Sat Li, a friend of Johnny's.

Sargoza takes the incense burner from Yokohama and locks the four in a room while he lights a match to melt the candle and retrieve the amulet.

[1] Contemporary critics cited James Dunn's engaging personality and the footage of aerial bombing from the Second Sino-Japanese War as the film's highlights.

[2] A modern review in TV Guide gave the film one out of four stars, criticizing the production as "confusing and uneven ... it is hard to figure out what is going on".

[3] McLaughlin and Parry note that Shadows Over Shanghai was part of a trend in 1930s Hollywood productions which "at least indirectly sympathized with the victims of fascism and criticized to a lesser or greater degree the aggressors.

The film follows this approach by presenting scenes of the Japanese bombardment of Shanghai, refugees fleeing the city, and children in a Chinese orphanage.