They say Hong Kong is the safest city in Asia. But tonight, a police van has been hijacked along with the arms, equipment and the five officers aboard, one of the hostages being the only son of police deputy commissioner M.B. Lee! With the chief commissioner away on a conference overseas, the fiery Lee immediately takes command of the rescue operation – codenamed “Cold War” – but the mysterious kidnappers clearly know the police procedures and are therefore in an advantageous position. Objecting to Lee’s aggressive but futile methods, the other deputy commissioner Sean Lau steps in at this time of crisis to lead the operation. But even Lau’s careful plan to negotiate with the kidnappers ends up a failure, losing the $50 million cash ransom and the life of his lieutenant in the process. Meanwhile, the ICAC (Independent Commission Against Corruption) begins to investigate Lau and Lee on suspicion of having hidden ties to the kidnappers…
Picking up some time after the events in the first movie, Sean Lau is now the Commissioner of Police after the successful rescue operation. However, things turn bad when his wife and daughter are kidnapped. Sean has to seek help from former rival and retired DCP, Waise Lee, to return to his job to help save Sean`s wife and child.
Chinese archeology professor Jack teams up with beautiful Indian professor Ashmita and assistant Kyra to locate lost Magadha treasure. In a Tibetan ice cave, they find the remains of the royal army that had vanished together with the treasure, only to be ambushed by Randall, the descendent of a rebel army leader. When they free themselves, their next stop is Dubai where a diamond from the ice cave is to be auctioned. After a series of double-crosses and revelations about their past, Jack and his team travel to a mountain temple in India, using the diamond as a key to unlock the real treasure.