Liu Shiyu
刘士余
Chairman of All China Federation of Supply and Marketing Cooperatives
In office
26 January 2019 – 19 May 2019
Preceded byWang Xia
Succeeded byYu Hongqiu
Chairman of the China Securities Regulatory Commission
In office
20 February 2016 – 26 January 2019
Preceded byXiao Gang
Succeeded byYi Huiman
Chairman of Agricultural Bank of China
In office
5 December 2014 – 20 February 2016
Preceded byJiang Chaoliang
Succeeded byZhou Mubing
Personal details
BornNovember 1961 (age 62)
Guanyun County, Jiangsu, China
Political partyChinese Communist Party
Alma materTsinghua University
OccupationPolitician, economist
Chinese name
Traditional Chinese劉士餘
Simplified Chinese刘士余

Liu Shiyu (Chinese: 刘士余; born November 1961) is a Chinese banker and former public official. He was best known for his term as head of the China Securities Regulatory Commission between 2016 and 2018.[1][2] Liu previously served as President of the Agricultural Bank of China from 2014 to 2016.[3] He turned himself into the authorities for disciplinary violations in 2019, and was demoted given a party membership suspension. At the time, he was serving as Chairman of the All China Federation of Supply and Marketing Cooperatives. Liu 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.[3]

Biography

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.[4]

In October 2014, he became the Communist Party Secretary (i.e. top leader) of the Agricultural Bank of China.[5] 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.[6][7] In January 2019, he was named Chairman of All China Federation of Supply and Marketing Cooperatives, replacing Wang Xia.[8]

Investigation

On May 19, 2019, Liu was placed under investigation by the Central Commission for Discipline Inspection (CCDI), the party's internal disciplinary body, and the National Supervisory Commission, the highest anti-corruption agency of China.[9][10][11]

On October 4, 2019, the Central Commission for Discipline Inspection said in a statement that Liu 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.[12] Liu was placed on two-year probation within the Party, and demoted to first-level investigator (一级调研员), a non-leading position somewhat equivalent to the official of section rank (正处级; zhengchuji).[12][13][14] He was removed from membership of the 19th National Congress of the Chinese Communist Party.

References

  1. ^ Xie Yu; William Zheng (20 May 2019). "China's former securities regulator Liu Shiyu is probed over family members' alleged insider trading and favouring hometown IPOs, sources say". South China Morning Post. Retrieved 4 October 2019.
  2. ^ "China's securities regulator chief Xiao Gang to step down: State media". The Straits Times. Retrieved 20 February 2016.
  3. ^ a b Zhang Yan (21 May 2019). "Ex-regulator of securities surrenders". chinadaily. Retrieved 4 October 2019.
  4. ^ "刘士余任农业银行董事长". Ce.cn. Retrieved 2016-02-19.
  5. ^ "媒体称央行副行长刘士余将接替蒋超良任农行党委书记". 人民网. Retrieved 2016-02-19.
  6. ^ Matt Ho (20 May 2019). "Liu Shiyu, China's former top securities regulator, turns himself in as part of corruption investigation". South China Morning Post. Retrieved 4 October 2019.
  7. ^ Hao Huang; Lucille Liu; Jun Luo (20 May 2019). "China's Former Top Securities Regulator Under Investigation". bloomberg. Retrieved 4 October 2019.
  8. ^ "中国证监会主要领导调整". Xinhua. 2016-02-20. Retrieved 2016-02-20.
  9. ^ Brenda Goh; Cheng Leng (20 May 2019). "China investigates former head of securities regulator". reuters. Retrieved 4 October 2019.
  10. ^ Yue Yue; Wu Gang (20 May 2019). "Former Chief Securities Regulator Put Under Investigation". caixinglobal. Retrieved 4 October 2019.
  11. ^ "中华全国供销合作总社党组副书记、理事会主任刘士余同志配合中央纪委国家监委审查调查". Central Commission for Discipline Inspection. 2019-05-19. Retrieved 2019-05-19.
  12. ^ a b "Former head of securities regulator Liu Shiyu removed from post". Chinadaily. 4 October 2019. Retrieved 12 January 2021.
  13. ^ Sidney Leng (5 October 2019). "China's former securities regulator Liu Shiyu gets light punishment after graft probe". South China Morning Post. Retrieved 6 October 2019. He has been given two years' probation, had his civil servant rank downgraded and his illegal gains have been confiscated.
  14. ^ "中华全国供销合作总社原党组副书记、理事会主任刘士余因严重违纪违法受到留党察看二年、政务撤职处分". Central Commission for Discipline Inspection. 2019-10-04. Retrieved 2019-10-04.
Business positions Preceded byJiang Chaoliang Chairman of Agricultural Bank of China 2014-2016 Next:Zhou Mubing (周慕冰) Government offices Preceded byXiao Gang Chairman of the China Securities Regulatory Commission 2016–2018 Succeeded byYi Huiman Civic offices Preceded byWang Xia (王侠) Chairman of All China Federation of Supply and Marketing Cooperatives 2019-2019 Succeeded byYu Hongqiu
Categories