"The Yao Fund under the Youth Foundation is not a corporate fund, but a special fund for receiving donations under the Youth Foundation Hope Project. Yao Ming and the Youth Foundation will sign an agreement to establish Yao Fund. " Wang Min told reporters that Yao Fund was initiated by Yao Ming and is eligible for public offering. However, Wang Min stressed that this fund is not Yao Ming's personal fund, and it is managed by the management committee of the Youth Foundation. There are three people in the management committee of the Youth Foundation, and there are three people in Yao Ming. Later, we added Ye Li. "
Wang Min said that Yao Ming didn't want to highlight his role in Yao Fund, but the sociality of the Fund, hoping to set a good example for the society, so Yao Ming never named Hope Primary School after himself. "It is also Yao Ming's suggestion to use the name of' Xueyan-Yao Fund' this time."
The start-up fund of Yao Fund comes from the donation of140,000 yuan raised at Nash Charity Dinner in Yao Ming in 2007, of which Yao Ming himself donated 2 million yuan.
Yao Fund holds a management committee once a year to determine the fund's work plan and tasks for one year. "Now, Yao Fund is mainly devoted to building schools in disaster areas." Wang Min said that Yao Ming originally planned to organize a second charity dinner, but because he was unable to return to China due to injury, he cancelled the dinner arrangement. "But the construction of the school is in operation."
"I hope that the management Committee can manage this money well, and I also hope that we can work with the Yao Ming team to carry out activities for the society under the guidance of a common mission and vision." Wang Min said that Yao Ming has taken Yao Fund as a very important cause.