Chao's initial dowry offer attracted 20,000 responses worldwide but failed to change Gigi's mind.
She has thus far taken her father's behavior in stride, previously telling a newspaper she believed it was an indication of how much he loved her.
But she told the South China Morning Post she had repeatedly asked him to stop mentioning the financial reward to the press.
British comedian and actor Sacha Baron Cohen is reportedly working on a film based on the story.
Neither Gigi nor Chao, who owns publicly listed property developer Cheuk Nang, could be reached for comment on Thursday.
Chao is a fixture in Hong Kong high society and regularly appears at public events with his latest young girlfriend. He once claimed to have slept with 10,000 women.
About the broadcaster:
Nelly Min is an editor at China Daily with more than 10 years of experience as a newspaper editor and photographer. She has worked at major newspapers in the U.S., including the Los Angeles Times and the Detroit Free Press. She is also fluent in Korean.
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