It is currently led by General SecretaryXi Jinping, with PremierLi Qiang as its deputy leader. The Commission coordinates closely with the National Development and Reform Commission[2] and is considered the highest body for coordination and discussion on issues related to the economy. The Office of the Commission, handling the daily affairs of the body, is currently headed by He Lifeng.
History
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.
In March 2018, the leading group was transformed into the Central Financial and Economic Affairs Commission.[3]
Functions
The commission has traditionally been the core decision-making body of the CCP in regards to economic policy and public finance. It generally meets around twice a year to discuss the overall direction of the Chinese economy. The Office of the Commission, handling the daily affairs of the body, is critical to coordinating high-level policymaking in economic and financial topics.[4]
Leaders
Zhao Ziyang (1980–1989, as Premier then General Secretary)
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