A Chinese Ghost Story (1987)

A Chinese Ghost Story is a 1987 horror film directed by Ching Siu-Tung. This is first in a well-regarded trilogy and won several awards (listed at Wikipedia). In addition to horror, it has romantic and comic elements. This is a delightful film, filled with ghosts, evil beings bent on sucking the life out of you, accidental heroes, unlikely alliances, star-crossed lovers, taoist sutras recited to repel evil, and subtitles of the kind that'd make the creators of "All your base are belong to us" so proud.

Moria says it "is perhaps the finest example of Hong Kong fantasy cinema" and "a grandiosely beautiful film." Love HK Film calls it "A certified Hong Kong Cinema classic". Gotterdammerung says,

It takes some getting used to in order to appreciate all the fine moments because everything happens so fast, it is easy to miss how well-crafted the film really is. I am not just talking about the exquisitely choreographed sequences, both fighting and otherwise. I am also talking about the dreamy, even nostalgic feel, that the film manages to convey.

The Spinning Image says it's "Widely acknowledged as a classic slice of Eastern delight" and calls it "a visual treat". It gets a score of 75% at Rotten Tomatoes.