All-China Federation of Industry and Commerce (ACFIC), or All-China Chamber of Industry and Commerce(ACCIC), was established in 1953.

CFIC is a mass organization and chamber of commerce led by the Communist Party of China with non-public enterprises and people in non-public economic activities as the principal composition and with unified, economic and non-governmental characteristics. It is also a bridge linking the Party and the government with people in non-public economic activities, an assistant to the government in managing and serving the non-public economy and an important part of the Chinese People's Political Consultative Conference. CFIC contributes greatly to the Party's united front and economy related work as well as the cause of socialism with Chinese characteristics.

CFIC aims to promote the sound development of the non-public sector of the economy and relevant professionals, and mainly serves private-owned enterprises, limited liability companies and joint-stock companies in non-public economic sectors, investment enterprises from Hong Kong and Macao, investors in private-owned enterprises, individually-owned businesses, businessmen from Hong Kong and Macao who invest in the Mainland China, etc.

Since the founding of the People’s Republic of China, CFIC has united with the world of business and made fruitful achievements in order to resume production and improve the national financial and economic conditions. Since the reform and opening up, CFIC has focused on economic construction, served the overall interests of the Party and country, actively participated in the administration and discussion of state affairs, made efforts to explore the approach to ideological and political education for people in non-public economic sectors, and contributed tremendously to improving the awareness, expanding the area and enhancing the capabilities related to service. On September 16, 2010, the CPC Central Committee and the State Council issued the Opinions on Strengthening and Improving the Work of Federations of Industry and Commerce under New Situation, which elevated the undertakings of CFIC to a new height and endowed it with great opportunities. Since the 18th CPC National Congress, CFIC has always revolved around the major matter, served the overall interests, adhered to the “sound development”, implemented the policy of unity, service, guidance and education, and played an active role in promoting the overall layout of “five-in-one” and the "four-pronged comprehensive strategy" in an coordinated manner under the firm leadership of the Party Central Committee with President Xi Jinping as the core.

By the end of 2018, there were 3,416 industrial and commercial federations above the county level and 48,916 chambers of commerce affiliated to such federations at all levels across China, which formed a nationwide network. ACFIC has established extensive contacts and friendly cooperation with over 400 organizations, agencies and chambers of commerce in more than 100 countries and regions the world over.

Chen Shutong served as the first, second and third chairman of ACFIC, Hu Ziang the fourth and fifth chairman, Rong Yiren the sixth, Jing Shuping the seventh and eighth, Huang Mengfu the ninth and tenth, and Wang Qinmin the eleventh.