After a goalless first half, Peng opened the scoring with rasping drive from top of the circle into the top right corner of the cage in the 42nd minute.
China, ranked seventh in the world, never allowed world No.3 England to bounce back into the game after Liang Meiyu increased the lead in the 55th minute.
Peng rounded off the scoring with her second penalty corner goal in the 66th minute.
England have lost both their matches, throwing the group open for semifinal aspirants behind defending champion Argentina.
Marie Mavers scored two field goals for Germany in the 19th and 65th minutes, while Kristina Hillmann contributed the other in the 50th minute. South Africa's lone strike came from Shelley Russell in the 64th minute.
Earlier, Olympic champions The Netherlands blanked Belgium 4-0 for their second win in Group A.
Four Dutch players made entries on the score-sheet, starting with field goals from Ellen Hoog (fifth minute) and Marleos Keetels (31st).
Captain Maartje Paumen converted a penalty stroke in the 44th minute before Roos Drost rounded off the scoring with a penalty corner in the 49th.
In another Group A match, Kim Daree's 30th-minute field goal gave South Korea a 1-0 victory over New Zealand.
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