Last Peach of the Season is a love story between an old Chinese couple. They have just finished visiting their son who has immigrated in the United States. The son wants to drive them back to their apartment, but the old couple turns down the offer, because their daughter-in-law is very pregnant and needs their son's company. Besides, their apartment is not very far from their son's house. So they decides to walk back to digest their big lunch. Along the way, the old couple can't stop fighting back and forth like archenemies. A young American couple passes by, all kissing and smooching. The old couple becomes allies again, complaining about these gooey American kids who need a good talking-to. Just when we think the couple forgives one another, they start bickering all over again. At the fork in the road, they demand the other to obey. Too stubborn to listen to one another, each ends up choosing their own path. They plan to meet as the two roads cross again at the other end.

However, the old man is under the weather. He coughs a lot. The old woman starts to worry about her sick husband as she walks alone. The peach vendor whom they met before catches up with the old woman. As it turns out, he is also an immigrant who has moved to the United States many years ago. The vendor gives her his last peach in the basket. The old woman plans to give the peach to her husband to alleviate his bouts of coughing. She walks faster and faster, and even mistakes another man for her husband. When she is about to get to the other end of her road, she hears the looming siren of an ambulance. She can also seem to hear the faint tune of Yue Opera "Butterfly Lovers" in the near distance that her husband has been listening during their walk back home with his old-fashioned radio. Gripped by terror and regret, she can't move, and the peach drops to the ground...