Peggy Tsiang Cherng is an American billionaire businesswoman who cofounded Panda Express in 1983 and serves as the cochief executive officer of Panda Restaurant Group. With an estimated net worth of US$1.7 billion as of 2019, Forbes reported that she is America's second richest self-made woman born outside the United States. The Cherngs invest their wealth out of their family office, the Cherng Family Trust.

Panda Express is an American fast food restaurant chain that specializes in American Chinese cuisine. With over 2,200 locations, it is the largest Asian-segment restaurant chain in the United States, where it was founded, and is mainly located in North America and Asia. Panda Express restaurants were traditionally located in shopping mall food courts, but the chain now operates units in many other environments and formats, including stand-alone restaurants, as well as universities, casinos, airports, military bases, amusement parks and other venues.