"The IAS TT & WF Chao Foundation Professorship was established by TT & WF Chao Foundation founded by my parents. It is the first major gift from overseas to HKUST since its establishment in 1991.The University has built its world-class name as a fine education provider and a powerhouse for scientific discoveries, and the Chao Family is proud to be a partner of HKUST. Through this Professorship, we hope to help HKUST IAS galvanize top talents into playing a key role in scientific innovation, and develop China into a preeminent scientific and technological center. It is our honor that such a distinguished faculty and Nobel Laureate Prof George Smoot, also a graduate of my alma mater, Massachusetts Institute of Technology, is the first holder of this professorship."

Mr Ting Tsung (TT) Chao, known as a pioneer in the chemicals and plastics industry in Asia and later in North America, is the Founder of Westlake Chemical Corporation and numerous petrochemical and plastics fabrication companies throughout the globe, including plants in Taiwan, Singapore, Indonesia, Malaysia, China, Canada and the United States. These companies own and operate facilities for the manufacture of petrochemicals, plastics, and fabricated plastic products in Asia and North America, making contributions to worldwide development of the petrochemical industry and the betterment of humanity.

Mr Chao’s philanthropic work with his wife Mrs Wei Fong (WF) Chu Chao helped create the TT & WF Chao Foundation, which gives primarily to health care, educational, religious, arts and cultural organizations and community development.