The current study investigates the peritraumatic distress of Chinese residents living in Canada and identifies the associated sociodemographic and pandemic-related predictors during the initial phases of the Coronavirus Disease 2019 (COVID-19) pandemic lockdown (i.e., from April 2020 to June 2020). A final sample of 457 valid participants aged 18 or older completed an online survey in which peritraumatic distress was assessed with the COVID-19 Peritraumatic Distress Index (CPDI). The results showed 32.76% of the sample was in the mild to moderate range (i.e., 28–51) and 5.03% in the severe range (i.e., 52 to higher) for peritraumatic distress. The hierarchical regression models on the continuous CPDI score identified life satisfaction as a consistent protector for the CPDI (absolute values of βs = −1.21 to −0.49, ps < 0.001). After controlling for life satisfaction, the following sociodemographic risk factors were identified: being middle-aged, being employed (relative to retired people/students), living in Ontario (rather than elsewhere), and a poor health status. Furthermore, the following pandemic-related risk factors were identified: a higher self-contraction worry, more of a COVID-19 information authenticity concern, a higher future infection rate prediction, and a higher personal health hygiene appraisal. The results of our study shed light on cognitive, experiential, behavioural, and sociodemographic factors associated with peritraumatic distress for Chinese residents living in Canada during the early outbreak stage of the pandemic.