I just bought this nice quality, widescreen DVD-R from Cinema de Bizarre (the online Holy Grail of quality, obscure movies on DVD-R). It barely makes it into the good movie forum (it isn't really a good movie, but it is faced paced and fun, so I'll give it the benefit of the doubt).
An American agent (an unusual character considering this is a dubbed movie full of Italian and Chinese actors) goes to Hong Kong to rescue some narcotics agents who have been kidnapped by drug traffickers. He teams up with two Kung-Fu-fighting international thieves (one is mute and does wacky things in the tradition of Harpo Marx), a Kung Fu instructor, and a female Kung Fu expert.
Most of the movie consists of (pretty lame) humor and Kung Fu training. Eventually, the American FBI agent gets some superhero costumes from his boss (a guy who sort of reminds me of Alan Arkin) that make the agent and his Kung Fu-fighting team impervious to bullets. Unfortunately, they don't put on the costumes and streak into action until about the final 10 minutes of the movie (this movie could have been so much better if they did this around the half-way point). There's a huge, well-choreographed martial arts fight in the street before this odd, rollicking movie comes to a conclusion.
I love the original title: Crash! Che Botte Strippo Strappo Stroppio
Here's the cover art that Cinema de Bizarre puts on the DVD case: