The All-China Federation of Industry & Commerce (ACFIC) was established in 1953 and its nature and status can be generalized as a people's organization and non-governmental chamber of commerce composed of Chinese industrialists and business people under the leadership of the Chinese Communist Party, an organization assisting the government to manage China's non-public economy, and also a bridge linking the Party and Government and non-public economic personages.

Since its founding, ACFIC's glorious tradition of closely following the Chinese Communist Party to embark on the socialist road has been shaping up. At present, ACFIC's political guideline is to hold high the great banner of Deng Xiaoping's theory, to study and practice the significant thought of “Three Represents,” to stick to the Party's basic line and guiding principles at the primary stage of socialism, to insist on the basic economic system with public ownership as the main body and the common development of multiple sectors, and to adhere to the basic policy of “one country, two systems.” And its working objectives are to perform its function as a people's organization and non-governmental chamber of commerce of the united battlefront, to unite, help, guide and educate all members, to provide our members with good services, to bring up a team of activists who firmly adhere to the leadership of the Party and the socialist road with Chinese characteristics, to promote a healthy development of non-public economy, to take efforts for the harmonious development of socialist material, political and spiritual civilizations, and to make eventually a great contribution to the great rejuvenation of the nation.

ACFIC's main tasks are to participate in the political consultation regarding national affairs and major decisions and practice political participation and discussion as well as democratic supervision, to guide its members to participate actively in the national economic construction and promote the stepwise perfection of the socialist market economy system, so as to accelerate the process of comprehensive social progress; to do well the recommendation work of the political arrangement for the representatives of industry and commerce, to publicize and carry out the guidelines and policies of the Party and the Government, to strengthen ideological and political work, to enhance the cultural construction of enterprises, and to guide its members to be the erectors in the endeavor of socialism with Chinese characteristics, to represent and protect the legal rights and interests of its members and to make known the attitudes, requests and advice, to guide its members to participate actively in the “honorable cause,” to provide its members with services of information and technology, management, law, accounting, auditing, financing, training, etc., to offer professional training of industry and commerce and to help its members improve operational management, better financial management, and elevate the productive technology and product quality, to organize its members to hold and participate in exhibitions and trade fairs of all kinds both at home and abroad, to organize its members for business trips abroad and to help them develop national and international markets, to enhance connections and friendship between the personages and organizations of industry and commerce of Hong Kong, Macao, Taiwan and all over the world and to promote cooperation of economy, technology and trade, to operate well the enterprises and undertakings of the ACFIC, and to do whatever entrusted by the government and related organs.

Pursuant to laws, the ACFIC builds up its organizations and framework in accordance with the national divisions of administrative areas. The ACFIC is responsible for conducting the work of local federations of industry and commerce and non-governmental chambers of commerce. With 3,059 local organizations at and above the county level, the ACFIC now has formed a nationwide network of its own. Its membership consists of corporate, group and individual members. Each local member is also a member of the ACFIC. By the end of 2002, there have been altogether 1.64 million ACFIC members in the whole country.

The ACFIC has established far-ranging connections with chambers of commerce of over one hundred nations and regions. It will persistently promote its relationship with industrial and commercial organizations, enterprises and individuals both at home and abroad, and strengthen accordingly the cooperation and common development.

Chen Shutong was the chairman of the First, the Second and the Third Executive Committees
Hu Zi'ang was the chairman of the Fourth Executive Committee and the Fifth Executive Committee
Rong Yiren was the chairman of the Sixth Executive Committee
Jing Shuping was the chairman of the Seventh and the Eighth Executive Committees
Huang Mengfu is the current chairman of the ACFIC