It's my understanding that the Shanghai Volunteer Corps was an international corps composed of English, Scottish, American, Italian, Jewish, Chinese, Portuguese, Filipino, and White Russians (persons, not drinks!).

The corps' purpose was to protect the several foreign settlements in Shanghai. After the invasion of Shanghai in 1932 by the Japanese imperial forces, depending on your point of view, either the corps kept the Japanese out of the settlements or the Japanese chose not to invade the settlements. The corps was officially broken up and disbanded by the Japanese in 1942.

Therefore, it is likely that the film clip was actually recorded in 1938.