It is currently led by General Secretary Xi Jinping, with Premier Li Qiang as its deputy leader.

The Commission was originally established as the Central Leading Group for Financial and Economic Affairs (Chinese: 中央财经领导小组; pinyin: Zhōngyāng Cáijīng Lǐngdǎo Xiǎozǔ) in March 1980.

The decision to establish this group was taken by the CCP Politburo Standing Committee on March 17, 1980 to replace the State Commission for Economy and Finance, so as to coordinate the work necessary to meet the requirements of Deng Xiaoping's "Reform and Opening Up" policy.

[3] The commission has traditionally been the core decision-making body of the CCP in regards to economic policy and public finance.

The Office of the Commission, handling the daily affairs of the body, is critical to coordinating high-level policymaking in economic and financial topics.