Liu was born in
Guanyun County, Jiangsu. He graduated from
Tsinghua University initially in hydraulic engineering, then and received a master's combined degree in engineering and management, and a doctorate in economics. Between 1987 and 1996, he worked for the Shanghai municipal economic structural reform office, then the National Office of Structural Reform, before being transferred to the
China Construction Bank (CCB). At CCB, Liu was rapidly promoted to more senior roles, working in its Banking Supervision Department. In 2002 he began heading the administrative office of the
People's Bank of China, and in July 2004, was named Assistant to the Governor, finally being promoted to Deputy Governor in June 2006. In October 2014, he became the
Communist Party Secretary (i.e. top leader) of the
Agricultural Bank of China. In February 2016, he was named chairman of the
China Securities Regulatory Commission. He was tapped for the role upon the dismissal of
Xiao Gang, after a tumultuous year in the Chinese stock market that led to huge investor losses. At the CSRC, Liu was known to have decreased the backlog of approvals for companies awaiting IPO on China's stock markets. In January 2019, he was named Chairman of
All-China Federation of Supply and Marketing Cooperatives, replacing Wang Xia. ==Investigation==