A range of quality of life (QOL) measurements specific for people living with human immunodeficiency virus (HIV)/acquired immune deficiency syndrome (AIDS) are available. They were, however, developed before or at about the time of introducing highly active antiretroviral therapy (HAART) and there has been very little measurement developed from a Chinese perspective. A study was therefore undertaken and we report our findings of the first phase, in which Chinese people living with HIV/AIDS in Hong Kong were asked to explain their perceptions of QOL so as to identify their construct of QOL using a qualitative approach. Thirty-six participants, thirty males and six females, of mixed demographic and disease-related characteristics were recruited through purposive sampling. Following thematic analysis, nine QOL constructs emerged which included perceptions of adaptation and coping, physical health, stigmatization and discrimination, HIV care services, antiretroviral therapy, sexual relationships, relationships with family and friends, work and money, and pleasure and contentment. When comparing these constructs with those of Western populations, they contain more components on focusing psychosocial and spiritual aspects but less on functional status and HIV-related symptoms. The differences may not be attributed by cultural variations alone but also by the dynamic nature of QOL. Since there has been a rapid evolution of HIV medicine, instrument developers may need to regularly review and update measures of QOL. The subjective perceptions and experiences of targeted population should be addressed. Our findings also suggest the need of maintaining tailor-made psychosocial support services for HIV-infected people despite general reduction of morbidity and mortality from HAART.