Old Floating Cloud brings together two of Can Xue's early novellas, Yellow Mud Street and the titular Old Floating Cloud.

Yellow Mud Streettells of a street, its people, and a strange event that happens there. The street is dilapidated, though it once saw better times. The "S" Machinery Factory, which used to run day and night, is rusty and decaying, though people still deceive themselves into thinking this factory is a fine place, the envy of "foreign devils" and an important connection with "the authorities." One day, "a thing" appears. No one is sure if it is a person, a flash of light, or a cloud of will-o'-the-wisp. It prompts rumor, superstition, political slogans, and an investigation by the authorities. A chorus of paranoid preoccupations wind up and down Yellow Mud Street, in a series of muttered refrains that build to a screaming frenzy.

Old Floating Cloudis the ruthlessly unsentimental story of a man who has an affair with his neighbor's wife. Can Xue describes the damage people do to each other, their obsessions, their lack of connection, and their attempts to exert power over one another. Lovers are not the only targets of Can Xue's biting humor. Resentment flares between parents and children, in-laws spy, and employees abase themselves before their bosses. LikeYellow Mud Street, this novella teems with insects, excrement, and distorted bodies--visceral reminders of our earthbound state.