BEIJING, Nov. 26 -- The 12th Congress of the All-China Federation of Industry and Commerce (ACFIC) concluded Sunday, with a new 487-member executive committee elected.

A total of 339 people, accounting for nearly 70 percent of the executive committee, are representatives of the private sector, according to the ACFIC.

During the three-day meeting, representatives passed a resolution on the study and implementation of the spirit of the 19th National Congress of the Communist Party of China (CPC), approved the work report of the previous executive committee and adopted amendments to the ACFIC charter.

The closing session was addressed by Xu Lejiang, Party secretary of ACFIC and deputy head of the United Front Work Department of the CPC Central Committee.

Xu said that the 19th CPC National Congress had pointed out the direction for the development of the private sector, and to study and implement the spirit of the 19th CPC National Congress is the ACFIC's primary political task.

Founded in 1953, the ACFIC is a non-governmental organization chiefly made up by enterprises and people in the private industrial and commercial sector.