為咗紀念區澤民同埋莫幹生對創校的貢獻，學校改名做民生書院。曹善允比推舉為終身出任校董會主席。學校初期租用民國政治家伍朝樞的物業作為校址，去到1939年再搬到九龍城東寶庭道繼續辦學。學校於1941-1945年被日軍侵佔，直至1945年香港重光之後先恢復辦學。
In order to commemorate the contributions of Ou Zemin and Mo Gansheng to the founding of the school, the school was named Minsheng Academy. Cho was elected as the Chairman of the Board for Life. In the early days, the school rented the property of the Republic of China politician Wu Chaoshu as the school site, and then moved to Tung Po Ting Road, Kowloon City in 1939 to continue the school. The school was occupied by the Japanese in 1941-1945 and was not resumed until 1945 when Hong Kong was reopened.