1999 12 to 2005 10 successively served as deputy director and director of the import and export department of the state reserve. During the period from 1999 to 10 in 2005, Liu violated the relevant provisions of the state on futures trading of state-owned units and used the central funds for overseas non-hedging futures trading, resulting in a loss of RMB 920 million when the ultra vires position of the State Reserve under the National Development and Reform Commission was basically cleared up on April 30, 2007.