Today, it consists of Chinese industrialists and business people under the leadership of the United Front Work Department of the Chinese Communist Party (CCP), as well as being a constituent organization of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) and the holder of a number of seats in the National People's Congress.

[4]: 167 From November 2002 to 2012, the ACFIC had been led by Chairman Huang Mengfu (Chinese: 黄孟复), who, like his predecessors, was also a vice chairman of the Chinese People's Political Consultative Conference National Committee, ranking as a national leader of China.

His predecessor was Jing Shuping, founder of the first private bank in modern China and the son of a well-known entrepreneur of the late Qing Dynasty.

[citation needed] The first vice-chairman of the ACFIC is Quan Zhezhu (Chinese: 全哲洙), a deputy minister of the United Front Department originally from Jilin.

[4]: 167 More than 3,000 regional federations of industry and commerce (FIC) have been established in all provinces and prefectures and most counties of China.