"Crouching Tiger, Hidden Dragon" star Chow Yun-fat may be a heavyweight from the golden era of Hong Kong cinema but the famously frugal actor has vowed to donate his vast wealth to charity after he dies.

Hong Kong actor Chow Yun-fat and his wife Jasmine Tan pose as they arrive for the 30th Hong Kong Film Awards presentation ceremony April 17, 2011 (File photo: Shine.cn)

Also known to Western audiences for films such as the Oscar-winning "Pirates of the Caribbean" and gangster classic "A Better Tomorrow," Chow has endeared himself to fans in recent years with a modest lifestyle.

Multimillionaire Chow, 63, joined Forbes' list of highest paid actors in the world for the first time in 2015, sharing 24th place with Russell Crowe.

Yet in Hong Kong — a city with no shortage of flashy socialites and stars — he can be spotted taking public transport and lining up for tickets to watch his own movie.

Now he has pledged to give away his entire fortune, reportedly HK$5.6 billion ($715 million).

"This money isn't something you possess forever. When you're gone one day, you have to leave it to others to use it," he told South Korea's Munhwa Broadcasting Corp in an interview aired last week.

"You can't bring the money in your bank account with you after you die," he said, adding his wife "strongly supports" his decision.

Local media give wildly varied estimates of his wealth but say he is worth hundreds of millions of dollars. Chow has said he has no idea how much he is worth.

His wife Jasmine Tan has previously described how her husband often eats at street stalls and only gave up his beloved Nokia flip-phone when it died after years of use.

Dozens of billionaire business figures have signed up to "The Giving Pledge" started by Bill Gates and Warren Buffet encouraging the world's wealthiest to donate their fortunes.

But Hollywood and Asian acting stars are noticeably absent from the list.

In his interview with MBC Chow, a native of Lamma Island which was once a traditional fishing village, also discussed the joys of a simple meal — a favourite is savoury Chinese turnips accompanied with rice.

"I am happy if there's food to eat, because we were quite poor then. I'll be very happy eating sweet potatoes and vegetables, and even happier if I have chicken and meat during the new year," he said.