This chapter explores the film’s historical situatedness in terms of specific events in China: the Wuhan uprising (1911), the Xinhai Revolution, the development of the Chinese Republic (1912), the Revolutionary Alliance’s Kuomintang, the elections of 1913, the Republican dream of electoral democracy and warlordism. Leaders, like Yuan Shikai and in particular Sun Yat-sen, alongside fictionalized entities such as the two warlords, General Tsao (Cao) and General Tun (Duan), and the revolutionary fervor, democratic reforms and dreams, monarchist revivalism and revolutions which variously went along with them, are central to reading the film’s fiction-historical continuum (set in Peiping 1913) and for rethinking and reimagining the Chinese democratic dream of the Republican period. The result is that Peking Opera Blues generally demonstrates that any envisioned Chinese democracy was, then, and most especially now for contemporary Hong Kong, still elusive.