Spanning 20 years, from 1990 to 2010, the series tells of three entrepreneurs who founded a company together to achieve the ultimate goal of developing a pollution-free town in Hong Kong. Through the years, they face many struggles, but most particularly, the family vendetta between two of the company founders.

The history of the Phoenix Restaurant is closely intertwined with the stories of four women of different generations. It portrays the commonest marital problems and various kinds of stress suffered by women over the centuries.