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Named the Beijing Institute of Foreign Trade at its foundation in 1951, the University of International Business and Economics was China¡¯s version of the central national institutions created by Communist regimes to train specialists in international trade.

Rated a Key University as early as 1960, it was closed during the Cultural Revolution and did not regain that status until 1978. It took its current name in 1984 and in 2000 incorporated the China Institute of Finance. In 1997 it was one of around 100 Chinese institutions designated for the modernising Project 211.

Jointly run by the ministries of Education and Commerce, it has the motto "Erudition, Honesty, Endeavour, Perfection".

The campus in the Chaoyang district of Beijing, seven miles from the city centre, is known to students as "Hui Garden" and features a central pond known as the "Black Sea".

Foreign students have been admitted since 1954 and in 2015 accounted for around one in five of a total enrolment of a total of 16,000. They were drawn from 148 countries, with South Korea supplying around two-thirds of their number. It also hosts the Beijing Centre, which teaches Chinese to international (mostly US) students.

The School of International Trade and Business offers English-medium courses, and there are specialist departments for the teaching of Korean, German, Russian, Japanese, French, Italian, Spanish, Vietnamese and Arabic.

A joint degree has been offered with the Reims School of Management since 1998. The business school was, as of March 2019, one of seven in China with "triple accreditation" from AMBA, AACSB and EQUIS