We demonstrate a high-efficiency and CMOS-compatible silicon Mach-Zehnder Interferometer (MZI) optical modulator with Cu traveling-wave electrode and doping compensation. The measured electro-optic bandwidth at Vbias = -5 V is above 30 GHz when it is operated at 1550 nm. At a data rate of 50 Gbps, the dynamic extinction ratio is more than 7 dB. The phase shifter is composed of a 3 mm-long reverse-biased PN junction with modulation efficiency (Vπ·Lπ) of ~18.5 V·mm. Such a Cu-photonics technology provides an attractive potentiality for integration development of silicon photonics and CMOS circuits on SOI wafer in the future.