Sheng Xuanhuai, Founder of Peiyang University.
Sheng Xuanhuai was born in Wujin, Jiangsu Province. In 1870, he was employed by Li Hongzhang, as his aide and soon became his chief economic deputy. Later, Sheng served as head of the Board of Posts and Communications, a high rank in the Imperial Cabinet during the Qing Dynasty. He also created eleven "firsts", including the first modern bank, first telegraphy company, the first iron and the steel joint enterprise. Sheng established the Imperial Telegraphy Administration and created Huansheng Cotton Mill, the first successful cotton mill in China. He created the imperial railway administration, and founded the Imperial Bank of China, the first Chinese owned commercial bank modeled on the Western banking system. Sheng established Peiyang University in Tianjin and Nanyang University in Shanghai, initiating modern higher education in China.