Liu obtained his bachelors degree in economics from the Beijing Technology and Business University in 1982.
Liu Xiaoguang, a senior economist, was given the position as the chairman of the Beijing Capital group in December 2002. He had previously served as the vice chairman and the general manager of the Capital Group since 1995, and as chairman of S.C. Real Estate Development Company and of Beijing Capital Sunshine Real Estate Development Co. Ltd since 2000. Before his appointment with the Capital Group, Liu had worked in various departments of the Beijing municipal government including serving as vice chair- man of the Development and Planning Commission of the Beijing municipality and deputy secretary general of the Capital Planning and Construction Committee of the Beijing municipal government.
Founded in 1995 following the combination of 17 local giant government-backed enterprises, the Capital Group’s business lines mainly focused on six areas: finance, infrastructure development, real estate, industry and high technology, tourism and hotels, and trade and commerce. The Capital Group under the direction of Liu has a total capital base of 23.2 billion yuan and is the nineteenth largest enterprise group by assets under the government’s jurisdiction. The Beijing Capital Group currently controls 142 companies in both domestic and overseas markets, including four listed companies, one listed mutual fund in the A-share market and one listed mutual fund in the Hong Kong market.
Much controversy has surrounded Liu Xiaguang because he held an especially sensitive position in charge of construction for the 2008 Olympics, an event that marks a milestone in modern Chinese history. Liu was recently brought into the limelight as result of a scandal that has already toppled one senior official in the municipal government. The questioning of Liu, confirmed by company officials and local property developers, followed the abrupt sacking of the Beijing vice mayor, Liu Zhihua, who was accused in a dispatch by the official news agency of leading a corrupt and ‘dissolute’ life. The disrepute was said to be because of concerns with the auction at the end of May 2006 of the Morgan Center, a half-finished building on a prime site close to an Olympic venue in northern Beijing.