Police said a 47-year-old man had been arrested today and has been charged with murder.
He will appear in the Manukau District Court later today.
Zhong's body was found in the boot of her car near her Auckland home in late November last year.
Police said the 55-year-old was attacked so violently that she was unrecognisable.
The arrest comes less than three months after news broke that a woman had been killed in late November, in the East Auckland suburb of Sunnyhills.
Detective Inspector Shaun Vickers said: "We know the community expected police to get on with the investigation and bring about justice for Elizabeth.
"From the outset of this investigation, the team of detectives working on Operation Attina have worked diligently to bring about a result in this case."
Vickers said he hoped the arrest would bring some reassurance to the community and to the victim's family.
Police had initially issued an appeal for sightings of the missing woman.
They found her vehicle around the corner from her home about 11am on Saturday, November 28.
However, it was revealed that officers did not open the boot of the vehicle until several hours later.
Zhong was previously the owner of Carrick Winery, in Bannockburn.
