Characteristics of holdup and flow behavior of fluidized solid particles were investigated in a liquid-solid circulating fluidized bed ($0.102m{ imes}3.5m$). Effects of liquid velocity ($U_L$), particle size ($d_P$) and solid circulation rate ($G_S$) on the solid holdup, overall particle rising velocity, slip velocity between liquid and particles and hydrodynamic energy dissipation rate in the riser were examined. The particle holdup increased with increasing $d_P$ or $G_S$ but decreased with increasing $U_L$. The overall particle rising velocity increased with increasing $U_L$ or $G_S$ but decreased with increasing $d_P$. The slip velocity increased with increasing $U_L$ or $d_P$ but did not change considerably with $G_S$. The energy dissipation rate, which was found to be closely related to the contacting frequency of micro eddies, increased with increasing $d_P$, $G_S$ or $U_L$. The solid particle holdup was well correlated with operating variables such as $U_L$, $d_P$ and $G_S$.