The story was liberally adapted from a short sequence in the popular Chinese folk tale Journey to the West. Princess Iron Fan is a main character.

Specifically, the film focused on the duel between the Monkey King and a vengeful princess, whose fan is desperately needed to quench the flames that surround a peasant village.

Source: Wikipedia

AniDB | IMDB | MAL | Wiki (en)

Same characters: Danao Tiangong