"We will consider the next steps for the Confucius Peace Prize," he said, adding only that Wang was one of the consultants for the award.
Wang has only become more defiant. He said he will continue to participate in the prize, despite being deprived of his position.
"I've set up my own firm and I can use it to support the prize," he said.
According to registration details, his company has just 30,000 yuan (US$4,700) in capital and is aimed at promoting and preserving Chinese culture through exhibitions and shows.
The nomination list for last year's Confucius Peace Prize included Yuan Longping, an agriculturalist known as the father of hybrid rice.
The winner last year went to Lien Chan, the former "vice-president" of Taiwan.
Candidates for this year's Confucius prize include Russian Prime Minister Vladimir Putin, German Chancellor Angela Merkel, South African President Jacob Zuma, Microsoft co-founder Bill Gates and former United Nations secretary-general Kofi Annan.
Liu, who also sits on the award's jury, said the panel has yet to decide when the 2011 winner will be announced.