Distinguished historian Prof. Yu Ying-shih is one of the first graduates of New Asia College. In 1950, he was admitted to the College's Department of Language and History after short-term studies at Yenching University, Beijing. In 1952, Yu and two other students became the first batch of graduates, and the College held its first graduation ceremony at Luk Kwok Hotel in Wanchai. Unfortunately, President Chi'en Mu could not join the ceremony, for he had an accident while giving a speech in Taiwan.

Yu received graduation certificate 'No. 1' of New Asia College. His hometown and date of birth are shown on the certificate, which was signed and sealed by Mr. Ch'ien Mu. After graduating from New Asia College, Yu studied at the New Asia Institute of Advanced Chinese Studies, and later went to the US for his PhD. In 1973, he came back to Hong Kong and became the Pro-Vice-Chancellor of the Chinese University and the President of New Asia College.

A replica of the Graduation Certificate is now on display in the University Gallery, courtesy of New Asia College.