In 1819, after Sir Stamford Raffles founded Singapore, many Chinese migrants flocked to Singapore to look for job opportunities. Many migrants decided to make Singapore their permanent home while many made their fortune as businessmen. During the British Colonial times, basic needs were not met. Therefore, the community raised funds and formed trusts to build schools, hospitals and cemeteries to secure a better life for their descendants.
In 1905, the Cantonese group funded the set up of Yeung Ching School (养正学校) in Chinatown to provide primary education to the community. The name “养正” means to nurture the young with the correct values. In 1924, to sustain the operational expenses of the school, some properties were obtained to earn rental income .
In 1988, the school was converted to a government primary school under the Ministry of Education. It was relocated to Serangoon and renamed Yangzheng Primary School (养正小学).
In 1990, the Singapore Court empowered the trustees to convert the Yeung Ching School Fund to Yeung Ching Foundation (now known as Yangzheng Foundation) so as to broaden its contribution to society.