Li Yang got his PhD from Renmin University of China, Master from Fudan University and Bachelor from Anhui University at 1989, 1984 and 1981, respectively. He was a visiting scholar to Columbia University during 1998-99, committee member of academic broad at Chinese Academy of Social Sciences, fellow of The China Science Center of International Eurasian Academy of Sciences, head of finance department at Chinese Academy of Social Sciences, president of China Urban Financial Society, vice president of China Association of Marine Affairs. Member of the 12th national people's congress, member of National People's Congress Financial and Economic Affairs Committee. Li Yang was the vice president of Chinese Academy of Social Sciences, member of the 3rd of the Monetary Policy Committee of People's Bank of China.

Li Yang has published 32 books, more than 500 academic papers and 200 research reports, he is also the editor-at-large of seven reference books including Encyclopedia of China (Chapter of Finance of Price Index), Dictionary of Chinese Finance and The great dictionary of finance. He has been in charge of more than 200 state-funded/international-cooperated projects.

Li Yang was 5-times fellow of “Sun-Ye-Fang Finance Award”, 2015 fellow of China Development Institute, 2015 fellow of “Sun-Ye-Fang Finance Innovation Award”, 2016 fellow of “Zhang-Pei-Gang Developmental Economy Award”.

Li Yang was regarded as an extinguish youth research at state level at 1992, being awarded state funded subsidies. He was regarded as a state level 1st-tier expertise at 1997, and was awarded as National Distinguished Expertise at 2002.

Li Yang's research focuses at finance, economics and Macroeconomics.