Yang is fanatical about Transformers and has been sculpting larger-than-life replicas of the robots with two friends since he was 19.
The hobby has since turned into a business and he has been commissioned to sculpt giant figures in China and Singapore.
His 14m creation of Autobot leader Optimus Prime, which he sold for about $50,000, is now on permanent display at the Shenyang Centre business district, and others are at the Transformers theme park ride in Universal Studios Singapore.
"I am very sure the All Blacks statue will be a huge tourist attraction, and will also be a new Auckland landmark," said Yang.
He had not thought about a name for the sculpture, but felt it could be fitting to call it the "Statue of Victory".
Metal McCaw would be made in China and shipped here in parts tobe reconstructed, he said - just asthe Statue of Liberty had been made in France and its 350 individual pieces were shipped to New York in 214 crates.
Yang said he was finalising the proposal, plans and design for the four-storey-high statue and would be approaching the council within the next few days.
Auckland Council spokeswoman Angela Jones said the council's public art team would consider the proposal when it was received.
Waterfront Auckland spokesman Luke Henshall said the plan had to be carefully considered.
"While we're the first to admit Richie is a legend, large-scale public artworks such as this would need to be carefully considered as part of the overall design approach for the high-profile open spaces of Queens Wharf," he said
If the plan is approved, it would not be the first statue of a New Zealand icon to be sculpted by a Chinese artist. The statue of Sir Edmund Hillary, which has become a landmark in Orewa, north of metropolitan Auckland, is the work of sculptor Chen Weiming.