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鄭元和奉父命上京赴試途中，偶遊曲江，迷戀名妓李亞仙，說不盡情話繾綣。終至床頭金盡，被鴇母驅趕，流落異鄉。其父上京尋子，見元和一身潦倒，為喪家賣唱輓歌為生，怒不可遏。認為元和玷辱家聲，將之痛打至昏厥，棄於街頭。
傷重奄奄的鄭元和被乞丐所救，棲身卑田院，與乞丐賣唱行乞度日。風雪飄零之夕，亞仙婢女銀箏遇見沿街賣唱的鄭元和，趕忙通報小姐；亞仙聞得情郎消息即往相見，兩人再度相逢，互訴衷腸。自元和被逐，亞仙閉門謝客。至覓得元和，亞仙遂以私蓄贖身，與元和相棲。
鄭元和得亞仙所救，悉心調養後，仍未認真攻學，終日依戀亞仙美色。亞仙以拔簪剔目警誡元和，元和感念亞仙苦心，自此用心發憤，終登科及第，與父冰釋，亞仙亦得封誥。
The Beggars’ Asylum
By order of his father, Zheng Yuanhe travels to the capital to take the imperial examination. On his journey, he tours around the Qu River and falls in love with a courtesan called Li Yaxian. He exhausts himself by verbalizing his feelings for Yaxian but when his money dries up, he is driven out by the madam of the brothel. His father goes to the capital to look for him, only to see him making a living by singing dirges at funerals. Furious at the dishonor he has brought to the family, the old man beats him unconscious and leaves him on the street.
The badly injured Yuanhe is saved by a beggar and taken to the beggars’ asylum. After that, he sings and begs for a living together with his savior. On a snowy and windy night, Yaxian‘s maid sees him singing while walking along a street. She hastens to inform her master. Yaxian immediately pays him a visit. As the two open their hearts to each other, the courtesan confesses that she has refused to receive any patron since he was driven out of the brothel. Now, having found Yuanhe, she buys her freedom with her ownsavings and begins a new life with him.
Although cared for by Yaxian, Yuanhe is still obsessed with her beauty, and is unwilling to apply himself to his studies. To admonish him, she pulls out her hairpin and blinds herself. To repay her altruistic and adamant intention, Yuanhe studies hard and eventually passes the imperial examination. He makes up with his father, and Yaxian is bestowed a title from the monarch.