CUSEF was founded in 2008 by Tung Chee-hwa, a billionaire, former Chief Executive of Hong Kong, and former vice chairperson of the Chinese People's Political Consultative Conference, who remains the chairman emeritus of the foundation.

[4][5] According to various journalists and academics, CUSEF is a central part of the Chinese Communist Party's united front strategy of influence in the U.S.[1][6][7][8] According to Foreign Agents Registration Act (FARA) filings, CUSEF is classified as a "foreign principal" which has hired lobbying and public relations firms since 2009 such as Brown Lloyd James, Fontheim International, Covington & Burling, Capitol Counsel LLC, Podesta Group, and Wilson Global Communications to craft and promote pro-Beijing messages.

[19] In 2018, the University of Texas at Austin refused a donation from CUSEF after a letter by Senator Ted Cruz raised concerns about the foundation's reported links to the Chinese Communist Party.

[3][20][21] In 2023, US House representatives Mike Gallagher, Ryan Zinke, and Matt Rosendale pressed the University of Montana to cut ties with CUSEF related to its funding of student trips to China.

In 2023, speakers attending the forum include former US ambassador to China and ex-senator Max Baucus, former US Trade Negotiator Charlene Barshefsky and President of the 70th Session of the UN General Assembly Mogens Lykketoft.