Established in 1953, All-China Federation of Industry & Commerce (ACFIC) is a mass organization and non-governmental chamber of commerce consisting of the people from the Chinese industrial and commercial circles under the leadership of the Communist Party of China (CPC). It is an organization which helps the Party and the government link the people from the non-public economy and which helps the government manage the non-public economy.

Since it was founded, the ACFIC has had the glorious tradition of closely following the CPC to take the socialist road. At the present stage, its political orientation is to hold high the great banner of Deng Xiaoping Theory, study and put into practice the important thought of Three Represents, adhere to the Party's basic line and guiding principle for the primary stage of socialism, stick to the basic economic system of promoting the common development of the economy with diverse forms of ownership with public ownership remaining dominant and uphold the basic policy of "one country, two systems". Its work goals are to conscientiously perform the function of a mass organization and a non-governmental chamber of commerce in the united front, unite with, help, guide, educate and serve all members, train a contingent of activists who firmly support the leadership by the Party and take the road to socialism with Chinese characteristics, and promote the sound development of the non-public economy. It strives to maintain the coordinated development of socialist material, political and spiritual civilizations and achieve the great rejuvenation of the Chinese nation.

The ACFIC's main tasks are to take part in the political consultation on major state policies and important problems arising in political, economic and social activities and participate in the discussion and administration of state affairs and democratic supervision; to guide its members to take an active part in the economic development of our country, promote the gradual improvement of a socialist market economy and accelerate all-round social progress; to recommend representative figures from the industrial and commercial circles for their political arrangements; to publicize and implement the principles and policies of the Party and the state among the people in the non-public economy, strengthen the ideological and political work among them, promote the establishment of corporate culture and encourage its members to become builders of socialism with Chinese characteristics; to represent and protect the legitimate rights and interests of its members and report their opinions, requests and suggestions; to guide its members to take an active part in the "Glorious Program"; to furnish its members with information and scientific, technological, management, legal, accounting, auditing, financing and consulting services; to provide special industrial and commercial training, help its members improve their business operation and management and financial management, upgrade their production technology and raise the quality of their products; to organize its members to hold and attend exhibitions and trade fairs at home and abroad and go to other countries for the purpose of visits or investigations and help them explore the domestic and international markets; to increase ties and friendship with the industrial and commercial organizations and the people from the industrial, commercial and economic circles in the Hong Kong Special Administrative Region, the Macao Special Administrative Region, the Taiwan region and other countries in the world and promote economic, technological and trade cooperation; to run the ACFIC's enterprises and undertakings well; to handle other matters entrusted by the government and relevant departments.

According to law, the ACFIC determines its organizational structure on the basis of the country's administrative divisions. It is responsible for guiding the work of local federations of industry and commerce and non-governmental chambers of commerce. It has 3,119 local organizations at and above the county level throughout the country and forms a nationwide organizational structure. Its membership consists of corporate, group and individual members. At the end of June 2006, it had 1.97 million members across the country.

The ACFIC has established extensive ties with chambers of commerce in over 100 countries and regions in the world. It will, as always, cement ties with all industrial and commercial organizations, enterprises and individuals at home and abroad, strengthen cooperation with them and seek common development.

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