In 1983, he bought 10 ambulances from Japan. The vehicles were the most advanced ambulances available at that time, complete with lifesaving equipment.

In addition to Pang-lin's charity sight-restoring surgeries, Yu has established scholarships and grants at 20 universities across China, and has donated more than 70 million yuan to education initiatives.

"Education is the foundation of a country and being engaged in charitable contributions to education is one of my dreams. This donation is only the start. I will give more money and expand cooperation with universities," he says.

Yu says his foundation would cooperate with medical schools at famous universities to train doctors to work in impoverished areas.

The charity has improved the lives of people from all over the world. Yu subsidized the school fees of poor students from other countries to allow them to study in China. The number of subsidized students reached 500 in April this year.

Yu says he hopes to help more overseas students, so they can spread Chinese culture and contribute to good relationships between China and foreign countries.

Yu has helped establish a number of Project Hope schools in China's western rural areas.

"I do charity in the hope of attracting more overseas billionaires to also get involved and do even more than me," Yu says with a smile.

Yu once said: "If my children are more capable than me, it's not necessary to leave a lot of money to them. If they are incompetent, a lot of money will only be harmful to them."

Yu is very busy now. He works 12 hours a day, even during weekends.

"Doing good deeds is more difficult than doing business," Yu says, but he feels very happy when those most in need receive help.