Set in the 1920s, the novel's protagonist is an orphaned peasant who moves to Beijing to earn a living. Xiangzi is a young, hard-working, well-built rickshaw puller who dreams of owning his own rickshaw. He distinguishes between himself and other rickshaw men who spend their money on cigarettes and liquor, instead avoiding socializing and focusing on saving his earnings. Just when he has earned enough to buy a rickshaw, it is confiscated by warlord soldiers. As he leaves, he spots some camels captured by the soldiers. He takes the camels and escapes and later sells them, earning the unwanted nickname Camel. However, the cash Xiangzi obtains from this is not enough for him to buy another new rickshaw, forcing him to begin saving anew. He is hired by Mr. Cao, a university lecturer who pays little but offers steady employment and fair treatment. Cao is later implicated by Ruan Ming, one of his students. During the course of the investigation, Platoon Leader Sun, a secret policeman, extorts Xiangzi into handing over his savings, leaving Xiangzi penniless again. Left with no choice, Xiangzi returns to work for Fourth Master Liu, the boss of a thriving rickshaw rental company. Although honest and industrious, Xiangzi finds himself entangled between Fourth Master Liu and his manipulative daughter Huniu, ten years his senior. Huniu eventually seduces Xiangzi, deceives him into thinking she is carrying his child, and insists on marrying him. He later learns that she had faked her pregnancy by hiding a pillow under her coat. Her father disowns her and the couple live together in a
tenement compound, progressively becoming poorer due to Huniu's spendthrift ways and Xiangzi's meager earnings. Later, Huniu befriends the meek and long-suffering Fuzi, whose alcoholic father has forced her into prostitution, renting her a room in which to meet clients. But soon Huniu expels Fuzi as she guesses Xiangzi is love with her, who is much younger than she was. When Huniu becomes genuinely pregnant, she becomes sedentary and over-indulges in rich food, complicating her health. One winter day, Xiangzi meets an aging rickshaw puller and his grandson, Xiao Ma. After buying food for them, Xiangzi becomes disillusioned with his ambition of owning his own rickshaw. When Huniu dies during childbirth and Xiangzi's infant child is stillborn, Xiangzi is distraught. Despite initially finding comfort in Fuzi, Xiangzi is reluctant to remarry due to his own poverty and the fact that Fuzi provides for two younger brothers. Overcome by apathy and depression, Xiangzi indulges in alcohol, tobacco, and prostitutes, becoming friendlier with his fellow rickshaw pullers but less diligent in his work. He eventually resolves to return to his former industrious ways, relating his life to Mr. Cao, who then offers him his old job and lodging for Fuzi. However, when Xiangzi returns to the tenement compound where he once lived with Huniu, he finds Fuzi's home empty. While searching for her, Xiangzi once again meets the old man he once took pity on. No longer pulling a rickshaw, the old man became a peddler after his grandson died. His advice leads Xiangzi to a brothel called The White Manor, to which Fuzi was sold. Fuzi had hanged herself in a grove outside the bawdyhouse. This sequence of events finally destroys Xiangzi's industriousness and ambition. Xiangzi begins "a downward spiral that carried him to society's lowest rung." No longer thrifty, he spends his earnings on alcohol, tobacco, and brothels, becoming lazy, selfish, and dishonest, neglecting his physical appearance and health, and contracting numerous cases of unspecified
veneral diseases. Having given up on his dream of owning his own rickshaw, he behaves as unscrupulously as the rickshaw pullers he once looked down on, and takes low-paying, low-effort jobs carrying
political banners. When Ruan Ming takes money from an unnamed political group to
unionize Beijing's rickshaw pullers, Xiangzi sells him out for a small sum. His advancing venereal disease ends his career as a rickshaw puller, forcing him to take menial jobs as a
professional mourner, his body prematurely decaying and his spirit broken. ==Subject matter and themes==