P. F. Chang's China Bistro

The chain was founded in 1993 by Paul Fleming and Philip Chiang, son of restaurateur Cecilia Chiang. The first restaurant was opened at the Scottsdale Fashion Square in Scottsdale, Arizona. In 1993, P.F. Chang's China Bistro, Inc. was formed from the acquisition of the original four bistro restaurants. By December 2001, P.F. Chang's owned and operated 65 full-service P.F. Chang's China Bistro restaurants. The company also developed its Pei Wei Asian Diner concept and operated five Pei Wei locations by the same date.

2004 restatement

On March 15, 2004, Chang’s reported that it had modified its partnership accounting, which resulted in a restatement of its financial results for prior years. On March 17, 2005, the company adjusted its accounting for leases in order to conform with U.S. generally accepted accounting principles. Accordingly, management and the audit committee determined that the company’s previously issued consolidated financial statements, including those in the company’s Annual Report on Form 10-K for the fiscal year ended December 28, 2003, and those in the company’s Quarterly Reports on Form 10-Q for the first three fiscal quarters of 2004, should no longer be relied upon.

2010s

In 2010, P.F. Chang's Home Menu was introduced in supermarkets. The brand represents a group of frozen appetizers and meals that were sold under license by Unilever.

In 2012, Chang's accepted an offer from private investment firm, Centerbridge Partners in a deal valued at $1.1 billion. ConAgra Foods, Inc. acquired the P.F. Chang's Home Menu license from Unilever in August 2012.

In mid-2014, P.F. Chang's confirmed that a breach had occurred targeting credit and debit cards used at their restaurants. The breach was initially identified by Brian Krebs, a cybersecurity journalist.

In 2015, P.F. Chang's filed for bankruptcy for its Canadian division.

In 2017, Pei Wei was officially split from P.F. Chang's as a separate business.

In December 2017, P.F. Chang’s announced that they would open a location in Shanghai during the first part of 2018, P.F. Chang’s first location in China. The Shanghai location was marketed to local Chinese customers as American food, and had 10 menu items unique to the company's China operations. Additionally, as of 2018 P.F. Chang's operated a restaurant in South Korea.

The chain specializes in Asian fusion cuisine. Special items on their menu include Chang's Lettuce Wraps, Chang's Spicy Chicken, Peking duck, and various types of sushi. Wine, specialty drinks, Asian beers, sake, cappuccino, and espresso are available outside standard beverage offerings.

In September 2025, P.F. Chang’s launched a revamped menu, featuring a collection of cocktails, hand-rolled sushi, garlic noodles, half-sized appetizers, and choices between medium and traditional entrée sizes.