Northern China, the present day. Jobless and penniless after being sacked by his boss, and deserted by his wife and young son, 42-year-old cook Erbao attempts suicide but is saved by a fairy, whose sole purpose is to make him happy. She grants him wishes, with the proviso that if he doesn't find happiness he should utter the magic phrase "I'm having a great time!" and he will be returned to the present for another wish. Erbao chooses to be a martial arts hero, a millionaire, a film star and a beautiful young woman but finds all of their lives have drawbacks. Finally, he asks to become an emperor in Ancient China.

Northern China, the present day. Jobless and penniless after being sacked by his boss, and deserted by his wife and young son, 42-year-old cook Erbao attempts suicide but is saved by a fairy, whose sole purpose is to make him happy. She grants him wishes, with the proviso that if he doesn't find happiness he should utter the magic phrase "I'm having a great time!" and he will be returned to the present for another wish. Erbao chooses to be a martial arts hero, a millionaire, a film star and a beautiful young woman but finds all of their lives have drawbacks. Finally, he asks to become an emperor in Ancient China.