Liu was born in Harbin, China, on 19 April 1989, son of Zhenning Liu and Zheng Liu. His parents had succeeded, against considerable competition, in entering Beijing University to study engineering. His father Zhenning left for America to pursue an PhD and his mother was employed in Beijing. Liu was raised in Harbin by his grandparents up to the age of five. The circumstances he described as idyllic and blissful. His parents eventually immigrated to Canada together with Liu. They had a successful career as dishwashing workers and became successful aerospace engineers. Liu recalled being raised by his grandparents in Harbin, China, in circumstances which he described as "idyllic and joyful". Liu's parents "hothoused" the child in maths at the age of five. They also set assignments that included studying algebra and biographies of scientists. Liu attended University of Toronto Schools as an high school student. He pursued a degree in business administration at Ivey Business School, University of Western Ontario. He graduated with distinction in 2011.

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