The Chinese Value Survey (CVS) was developed by Bond and his colleagues as a complement to survey instruments constructed by research workers such as Rokeach (1973) and Schwartz (1992). It was designed to be used with people living in geographical regions where Eastern life values are pre-eminent. Preliminary studies have been carried out using this instrument with university students from ethnically Chinese backgrounds studying in three Australian universities. Data were examined using principal components analysis rotated to orthogonal structure. Initial results indicate that of the 40 values measured, 39 neatly form four factors, which are renamed to suit their content. This analysis makes interpretation of the values held by students from an ethnically Chinese background more accessible.