He was a pioneer in international petrochemical and plastics industries in Asia and North America.

After the Second World War Chao relocated to Taiwan and created the first polyvinyl chloride (PVC) plant.

The plant began production in 1957 and assisted in Taiwan's economic development.

Chao's joint venture with Mattel in 1966 produced the first Barbie dolls.

Chao later formed Westlake Chemical Corporation in 1986 in Texas, Titans Chemical Corporation in 1988, which was the first and largest petrochemical company in Malaysia, and Suzhou Huasu Plastics Co. Ltd in 1992.