Liu Shiyu is a Chinese banker and former public official.
12 Facts About Liu Shiyu
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Liu Shiyu was best known for his term as head of the China Securities Regulatory Commission between 2016 and 2018.
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Liu Shiyu turned himself into the authorities for disciplinary violations in 2019, and was demoted given a party membership suspension.
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Liu Shiyu was the second ministerial-level official to hand in to anti-corruption authorities since the 18th National Congress of the Chinese Communist Party in late 2012.
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Liu Shiyu 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.
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At CCB, Liu Shiyu was rapidly promoted to more senior roles, working in its Banking Supervision Department.
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Liu Shiyu 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.
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At the CSRC, Liu Shiyu was known to have decreased the backlog of approvals for companies awaiting IPO on China's stock markets.
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On May 19,2019, Liu Shiyu was placed under investigation by the Central Commission for Discipline Inspection, the party's internal disciplinary body, and the National Supervisory Commission, the highest anti-corruption agency of China.
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On October 4,2019, the Central Commission for Discipline Inspection said in a statement that Liu Shiyu was found to have severely violated political discipline and political rules, received gifts and used his power and position to seek personal gain for others, made illegal arrangements for others to work in the financial system and job promotion.
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Liu Shiyu was placed on two-year probation within the Party, and demoted to first-level investigator, a non-leading position somewhat equivalent to the official of section rank.
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Liu Shiyu was removed from membership of the 19th National Congress of the Chinese Communist Party.