The Joint Ukrainian-Chinese Business Council (UCBC) was founded in September, 2010 during the State visit of the President of Ukraine to China, being based on bilateral agreement between the Ukrainian Chamber of Commerce and Industry (UCCI) and the China Council for the Promotion of International Trade (CCPIT) as a permanent platform for communication and cooperation between business circles of both countries.

The main task imposed on UCBC is to promote the development of bilateral economic ties, ensuring constant dialogue between enterprises of both countries by arranging common meetings and events, discussions as well as through exploration of the possible cooperation in economic, trade and investment spheres.

The Joint Ukrainian-Chinese Business Council, which consists of two equal parts, is headed by two co-chairs and their four deputies. It includes more than 100 Ukrainian and Chinese business entities, enterprises, institutions and associations.

Mr. Zhang Xiaolun is the Chairman of the Board of one of the leading state corporations of China - China National Machinery Industry Corporation (SINOMACH). The Ukrainian part of the Business Council is headed by a well-known Ukrainian diplomat, Ambassador Extraordinary and Plenipotentiary of Ukraine to China in 1999-2001, Chairman of the Board of the Ukrainian-Chinese Strategic Partnership Association (AUCSP) Mr. Igor Lytvyn, Deputy Chairman is Vice President of the CCI of Ukraine Mr. Valery Korol.

The positive results of the Ukrainian-Chinese BusinessCouncil’s activity include the exchange of  Ukrainian and Chinese business delegations within the State visit of the President of Ukraine to China in 2013 and the State visit of the President of the People's Republic of China to Ukraine in 2011 respectively, providing business component while mutual working visits of government delegations of both countries in 2011- 2013, and also numerous exchanges of the regional business communities’ delegations, participation in the drafting of official bilateral economic co-operation  documents, the annual business forums, seminars, conferences, exhibitions etc.

The UCBC as effective tool of bilateral co-operation, has great potential for the development of mutually beneficial business activity between Ukraine and China at different levels (branch, enterprise and region). Events, initiatives and concrete projects under the auspices of the Business Council have severe status and gain exceedingly favorable attitude of the party-state leadership and leading Chinese economic structures as well as in Ukraine’s respective circles.