Prior to joining CITIC PE, Mr Liu worked as Chief Investment Officer and General Manager of the Investment Management Department of China Life Insurance Ltd. (“China Life”). Previously he also served as Director of CITIC Securities, Director of Guangdong Development Bank, General Manager of Investment Management Department of China Galaxy Securities Company Limited, General Manager of Beijing Galaxy Investment Advisers Company, Executive Director of Capital Securities, and Senior Manager of the Investment Banking Department of Everbright Securities.

During his tenure at China Life, Mr. Liu was responsible for the assets and liabilities matching / management, strategic allocation and investment management for assets totaling over thousands of billions of RMB in value. He successfully led the equity investments in many milestone projects, including China Southern Power Grid, Guangdong Development Bank, CITIC Securities, Visa, Mingsheng Bank, China Union Pay, Qinhuangdao Port Group. These projects have not only earned remarkable investment returns, but also exerted substantial influence on the capital market and created the leading market position for China Life. In terms of investment size, the RMB 35 billion investment in China Southern Power Grid in 2006 still stands as one of the largest single investments in China’s private equity market so far, and the company has continued to present consistent performance improvement over the years. In terms of investment returns, the RMB 4.64 billion investment in CITIC Securities in 2006 has generated a return of 400% by September 2008, and the investments in China Union Pay and in Port of Qinhuangdao both generated returns of over 300%. Mr. Liu, who has been watching the international market, bucked the trend by investing in Visa in 2008, reaping a return of approximately 80% by September 2008. In addition to his extensive experience in project investments, Mr. Liu has also accumulated a wealth of experience in assets allocation, strategic analysis, risk control, etc. He had led the development of a wide range of assets models, indices and financial products, achieving long-term, stable returns while keeping tight control on the risks.

Mr. Liu holds an MSc in Economics from the Chinese Academy of Social Sciences, a Master’s degree in Business Administration from China Europe International Business School and a Bachelor’s degree in Economics from Renmin University of China.