The Overseas Investment Office granted consent for the sale in July.
Shanghai CRED has appointed New Zealander Simon Jones, who has been at the resort for nearly six years and was formerly general manager, as CEO of the facility. His wife, Lian, has been the resort's head accountant for a year.
All 40 staff have been retained.
Mr Jones yesterday described the resort's future prospects as very positive and exciting for the Far North.
The millions of dollars which Shanghai CRED would invest to boost tourist numbers would increase jobs on the property and he said local people would be employed wherever possible.
Other planned developments include expanding the vineyard to significantly increase its present wine exports to China.
The resort's existing farming and quarrying operations will continue, a trial manuka oil extraction plant will be built, and the new owners have undertaken to continue to care for native vegetation, wetlands and archaeological sites on the property in accordance with protocols agreed with local iwi.
Public access to the 4km of beach at the resort will continue, with seasonally restricted access to an area where dotterels nest.
Other local attractions range from Olympic-quality skeet and trap shooting, tennis and kayaking to bird watching and deep sea fishing. Most of the world's striped marlin records were set off the Karikari peninsula.
Shanghai CRED general manager Guo Gui said affluent Chinese and other international tourists staying at Peppers Carrington may also want to visit other attractions in the region, which would help revitalise tourism in the North.