The English title is "Little Nezha" (Nai-ya), it tells the story of an emperor's wife laying an egg instead of giving birth, the emperor is outraged, however before he cuts the egg with his sword in anger, his son is born from the egg and givin special powers from a wise old man (Tai-yee) to battle the 5 dragon kings terrorising china.
This is superb traditional Chinese animation, the dubbing isn't amazing (what dubs are??), but acceptable. Kids and adults will enjoy this, though there is some shocking scenes, though I didn't mind them at all when I was a kid. The music alone is amazing, very atmospheric and memorable. Find this on VHS on ebay, I did!! You wont regret it.