"This is the biggest, weightiest opportunity of my life. Intense pressure goes hand-in-hand with major competitions."
The national team will open its Olympic campaign against the Kobe Bryant-led United States on Aug 10. Its group also includes world champion Spain, African title-holder Angola and two European qualifiers yet to be determined.
"The US and Spain are much stronger than China and I do not think we are able to beat them. So if we want to advance into the next round, we have to defeat Angola and one of the two qualifiers from Europe," Yao said.
As his global influence has increased, Yao has redoubled his commitment to social causes. His latest efforts have included setting up the Yao Foundation in response to May's Wenchuan earthquake.
The foundation will help raise funds to build quake-resistant schools.
"A donation of $100,000 can rebuild a permanent school for about 300 students, while $3,500 can help build a prefabricated classroom with desks and chairs for 50 students," said Yao, who has personally donated $2 million to help rebuild schools.
Yao said his idea of setting up a foundation emerged five years ago but he had to wait until he gained more managerial experience.
"After cooperating with other foundations and launching charity competitions like we did last year, we gained a lot of experience and decided we would set up a foundation after the Olympic Games.
"But the earthquake in Sichuan changed our original plan because we wanted to do something for them as soon as possible."
Yao said NBA stars like Steve Nash and Baron Davis as well as Rockets owner Leslie Alexander have donated to the foundation. He will also look for further financial support.
The foundation's website - yaofoundation.cn - was launched yesterday. Yao's Beijing Olympics shoes and other Yao-related goods will also be pauctioned soon.
Yao said he plans a life of fulfilling his social commitments.
"It's different from being an athlete. Basketball is just one part of my life. But my charity work is a lifelong career."
