In 1949, shortly after the founding of the People's Republic of China, CUFE, the first university of finance and economics in the Republic, was created by the China's central government. The former name of CUFE was Central School of Taxation. Later, it went through several stages of development, from Central Institute of Finance, Central Institute of Finance and Economics, to Central Institute of Finance and Banking. In 1996, the Institute was officially renamed as Central University of Finance and Economics (CUFE) under the direct leadership of the MOE. CUFE upholds "loyalty, unity, truth and innovation" as its motto, adhering to the philosophy of "pursuing truth and excellence". With over ninety-thousand graduates, CUFE is known as "the Cradle of Giants in the Field of Finance and Management ".

The university has established a base for the National Higher Education Institutions Academic Innovation and Talent Recruitment Plan. More than 500 international scholars and teachers come to visit or give lectures at CUFE each year. More than 50% of CUFE’s faculty members have had overseas experience.

The university supports nearly 600 students each year to go abroad for study or exchange through government-sponsored scholarships or exchange programs. Starting from 2005, CUFE has been accepting international students with Chinese Government Scholarships or scholarships awarded by Confucius Institute Headquarters (Hanban). Starting from 2006, CUFE has undertaken some international assistance projects, through which it has provided trainings to more than 1,000 high-level government officials from more than 90 developing countries and is widely applauded for these trainings.