Teng Weizao (1917-2008) was born in Funing, Jiangsu Province. He was a world famous economist who made outstanding contributions at the national level. From October 1981 to January 1986, he served as president of Nankai University, and from September 1982 to September 1983, he acted as secretary of the Party Committee of Nankai University.
Teng graduated from Zhejiang University's Department of Agricultural Economics, and was admitted to the Department of Economics at the Nankai Institute of Business, at the National Southwest Associated University Research Institute, where he received a master's degree in economics in 1944. Teng was employed at Nankai University in 1946, where he successively served as director of the Department of Finance and Trade, Director of the Institute of Economics, Vice Dean, Deputy President, President, Secretary of the Party Committee, Guidance Counselor, and Director of Center for International Studies. He was president of the China American Economic Association, Vice President of the China Society of World Economics, and leader of the Economics Disciplinary Council of the State Council Academic Degree Committee. He was also appointed as Senior Consultant of the Commission on Transnational Corporations by the Economic and Social Council-ECOSOC, making him the first expert appointed to this position in China.