The Lin Education Foundation was officially established during Chongyang Festival, which fell on Oct 13 this year, at the Tunnel Headquarters Economy Building in the Pingtan Comprehensive Experimental Zone, east China's Fujian province.

Many elderly people attended the celebration party and the launch ceremony, and Lin Qingsong, president of the foundation, said that Chinese people traditionally respect the old while cherishing the young, and the Lin Education Foundation aims to help young people get a good education.

Lin also said that when the young people grow up, they will become useful members of society and contribute to the development of their home county.

The major beneficiaries of the foundation are expected to be Pingtan villagers surnamed Lin, students and senior citizens and low-income residents - the most vulnerable segments of society - who meet the criteria of the foundation.

The foundation has already received donations totaling more than 4 million yuan ($656,400).

Edited by Chen Zhilin and Niva Whyman