Regarded as one of China's Four Dan Actresses,[2] she rose to pan-Asian fame for her role in the television series My Fair Princess (1998–1999), followed by a series of popular dramas and films, such as Romance in the Rain (2001), Shaolin Soccer (2001), Moment in Peking (2005), Painted Skin (2008), Mulan (2009), and Dearest (2014), for which she won the Hong Kong Film Award for Best Actress.

This comedic period drama quickly became a phenomenal sensation and swept TV ratings in Taiwan, mainland China, Hong Kong and Southeast Asian countries such as Singapore and Vietnam.

However, alongside the phenomenal success were increasingly negative critics in mainland China, attacking the rebellious role as a "bad influence" over children.

After much speculation over who was cast for the female lead An Xin in Ann Hui's film Jade Goddess of Mercy, the role was finally offered to Zhao, and her performance was well received by critics.

[30] After a four-year break from television series, Zhao starred as Yao Mulan in a remake of Lin Yutang's Moment in Peking (2005).

[38] Zhao then portrayed a cabby in the 2007 film The Longest Night in Shanghai, starring alongside Masahiro Motoki and Dylan Kuo.

[52] Zhao returned from her extended parental leave in 2012, playing, incidentally, a single mother in Love, directed by Doze Niu.

[79] In February 2017, Zhao went back to her alma mater – School of Performing Arts, Beijing Film Academy – to be the finale round examiner/assessor of applicants for the 2017 intake.

[84] As the protagonist Catherine, Zhao made her stage debut in a public theater production adapted from David Auburn's 2001 Broadway play Proof, directed by Tian Zhuangzhuang.

However, some internet users speculated that the photos might have been taken earlier, as the center’s staff were not wearing masks, which were generally required in China during the Covid-19 pandemic.

Videos on Bilibili featuring Zhao were no longer blurred, and streaming platforms restored the television drama Records of Kangxi's Travel Incognito 2, in which she plays a role in one of the multi-episode story arcs.

[94] In April 2024, the Beijing Fourth Intermediate People’s Court froze the shares of Zhao’s company, He Bao Entertainment Group Co., Ltd., totaling 5 million RMB.

Zhao’s Weibo account remained inactive for more than three years until December 4, 2024, when she posted a tribute to Chiung Yao, the writer of the original novel of My Fair Princess, who had died by suicide earlier that day.

Zhao and her then husband Huang Youlong, whom she has since divorced, invested nearly HKD 3.1 billion to acquire shares in Alibaba Pictures in 2014, becoming the company’s second-largest shareholder.

The China Securities Regulatory Commission later found that Zhao and her company had violated disclosure rules by announcing and playing up merger and acquisition intentions at a time when they lacked sufficient resources, or support from financial institutions, for such a deal, “seriously misleading the market with fake information”.

[clarification needed][102] Following four years of work, Zhao launched the Bordeaux wine brand in the Chinese mass market in October 2015.

Following her breakup with Ye, Zhao traveled to New York for fashion shows and leisure, where she had a brief two-month relationship with a Chinese-American businessman surnamed Li.

[110] In 2007, Zhao was introduced to the Chinese-born Singaporean businessman Huang Youlong (黄有龙) through Wang Lin, a self-styled qigong master and psi practitioner who had extensive connections among Chinese celebrities.

Huang, who had little publicly available information before marrying Zhao, has faced persistent speculation about the origins of his wealth, reportedly accumulated around 2000 or 2001 while working for a now-defunct company under the Aviation Industry Corporation of China in Shenzhen.

[112] His wealth is often rumored to have been linked to his alleged role as a "driver" and "white glove" (bagman) for disgraced Shenzhen mayor Xu Zongheng.

Her notable charity work and donations include: In 2001, Zhao shot a group of photos for the August issue of fashion magazine L'Officiel China.

Four months later, in December 2001, Xiaoxiang Morning Herald, a local evening newspaper in Hunan, questioned and criticized the photo, provoking a national outcry against Zhao.

[140] On December 28, 2001, during her performance at a concert in Hunan, Zhao was attacked and had feces thrown at her on stage by Fu Shenghua, a construction worker who claimed his grandparents had been killed during the Second Sino-Japanese War.

[142] Due to Zhao’s "Japanese flag dress" controversy, Zou Xue, then editor of L'Officiel China, stepped down from the magazine.

[143][137] On April 25, 2016, Zhao posted costume photos of the main cast members from her second directorial feature, No Other Love, on Weibo, including Taiwanese actor Leon Dai and Japanese actress Kiko Mizuhara.

On July 1, the Communist Youth League criticized Zhao for casting Dai and accused him of supporting Taiwanese independence in a Weibo post, which was initially removed by the platform.

Weibo stated that the removal was automatically triggered by sensitive terms in the post, such as “Falun Gong,” and reinstated it on July 6 following an appeal by the Communist Youth League.

However, given that Weibo is partially owned by Alibaba, where Zhao is the second-largest shareholder in its film division—the publisher of No Other Love—the removal of an official organ’s post intensified the online backlash against the film, fueling a storm of conspiracy theories accusing Zhao of manipulating public opinion through “capital” and labeling her an “American spy,” an “Illuminati member,” and a “secret murderer,” among other accusations.

[146] In July 2024, a New York Times investigative report revealed that Zhao and Huang acted as agents for Xiao in his investments in Jack Ma’s companies.

Additionally, an employee of Xiao’s was identified as the largest single investor in a fund managed by Yunfeng Financial, comprising Ma’s associates and relatives, including Zhao's mother.