Overview
China's Ministry of Commerce (Mofcom) was established in March 2003 as part of an all-around institutional reorganisation conducted by the State Council, the country's top administrative body. The ministry is headquartered in Beijing and is the 20th-ranked department of the State Council.
MOFCOM is responsible for formulating policies on foreign trade, export and import regulations, foreign direct investments, consumer protection, market competition, and negotiating bilateral and multilateral trade agreements. Key activities include overseeing inbound and outbound investment, drafting trade laws, and negotiating international trade agreements. MOFCOM plays a significant role in forging China's global economic policy and is instrumental in attracting foreign investment and optimising the business environment. MOFCOM regulates domestic and foreign trade, works to attract foreign investment, and helps Chinese companies abroad.
Recent Leadership
Wang Wentao has been Minister of Commerce since December 2020. As of October 2025, Wang announced that China will take the initiative to open wider in the 15th Five-Year Plan period from 2026 to 2030, with efforts focused on the service sector to expand market access and areas of openness. The China Council for the Promotion of International Trade (CCPIT), founded in 1952, is controlled by the Ministry of Commerce.
Facts compiled by Executive Moves from publicly available news and press releases on 23 September 2026. Spotted an inaccuracy? Email us and we'll review within 1 business day.
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