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In 1998, Yip invested a large sum in her brother's project of building a Disneyland in Hong Kong. However, the project was scrapped along with the budget causing a fallout between the two. Yip and her brother later reconciled.

Aside from these films, Yip has also starred in many films critically acclaimed Chinese movies, including Jeffrey Lau's The Eagle Shooting Heroes and Stanley Kwan's Red Rose, White Rose (1994). Yip's ability to escape the soft porn market paving the way for actresses such as Shu Qi and Pauline Chan to do the same.

Yip had a singing career when she joined Fitto Entertainment, owned by her brother Yip Chi-Ming, before the company was transitioned into Emperor Entertainment Group, releasing seven cantopop and mandopop albums between 1992 and 1995. Yip received two Best New Artist gold awards from 1992 RTHK Top 10 Gold Songs Awards and 1992 Jade Solid Gold Best Ten Music Awards Presentation.

Veronica Yip was born in Hong Kong and started her career in participating in the 1985 Miss Asia Pageant and received the 2nd runner-up award. Her career breakthrough was when she starred in adult films which previously were considered taboo for mainstream actresses in the Hong Kong market. Yip has starred in a total of three of these Category III films: Take Me (1991), Pretty Woman (1992) and Hidden Desire (1992). All three films were regarded as commercial successes and paved the way for mainstream actresses, such as Loletta Lee and Irene Wan to act in such films.

Veronica Yip Yuk Hing (simplified Chinese: 叶玉卿 ; traditional Chinese: 葉玉卿 ; pinyin: Yè Yùqīng ; born 12 February 1967) is a Hong Kong-born actress, singer, and businesswoman who is probably most well known for her roles in "adult" Category III films (while, not pornographic, these films do contain nudity and sexual situations that are more commonly found in softcore American films such as Basic Instinct).