Established in 1952, the China Council for the Promotion of International Trade is a national nongovernmental organization engaged in foreign economic and trade activities. It is composed of representative figures, enterprises and associations in the country's economic and trade sectors. Currently, it has 18 industrial branches, 70,000 corporate members, more than 600 local branches and sub-branches, and 16 overseas offices. With approval from the Chinese Government, the council created the China Chamber of International Commerce in June 1988. Wan Jifei is current president of the council.