She has a Ph.D in economics from Stanford and was once the youngest ever head of SAL Capital Group, a billion dollar hedge fund. She is suspected of handling Red's finances.
In 2002 and then again in 2006, Zeng was charged with wire and securities fraud related to insider trading. In both cases, she escaped without conviction. The U.S. Securities and Exchange Commission (SEC) considered her to be untouchable.
Throughout the series, Luli and Red have been shown to have an implied, teasing and affectionate relationship.
Along with Dembe Zuma she is "the least offensive" to Harold Cooper and Diane Fowler to serve on Raymond Reddington's security detail. When he meets her Red tells Donald Ressler to be careful as she "hates men", it is not known if this is true, or why Red said it.
While Red plays solo chess, she is sitting on a bench nearby, ready to deal with any business that occurs.
She is in the back of Raymond Reddington's limousine using a tablet computer app to direct Dembe to the cabin where Stanley R. Kornish is holding Elizabeth Keen.
In the house where Red is staying, she brings him tea when Liz first arrives.
She tells Red that the something he told her to watch for, is on the market. Red tells her to proceed.
She buys Raymond Reddington's old house by offering double the listed price in cash.
She accompanies Red and Dembe to the house prior to it being destroyed.
She was with Red trying to persuade Mary to move her counterfieting operation to Malaysia when Liz arrived to talk about the downed aircraft.
She is also working with Mary when Liz returns to talk about the missing hard drive.
Luli was with Red and Dembe in Munich when Donald Ressler arrived and took them all back to Washington, D.C. She was subsequently captured by Anslo Garrick's men. Anslo Garrick killed her in an attempt to try and convince Red to come out of the cell.