The 17 th Central Committee of the Communist Party of China (CPC) opened its fifth plenary session in Beijing on October 15 to discuss the nation’s socio-economic development plan for the next five years.

The four day meeting will also review the country’s socio-economic development over the past five years, reported China ’s Xinhua news agency .

The 2011-2015 period will be critical for ensuring a moderately prosperous society, according to the Political Bureau of the CPC’s Central Committee.

It will be a time of facing difficult issues, including speeding up reforms and opening up process while accelerating the transformation of the nation’s economic model.

Economic analysts said that this session is extremely important as the committee members will evaluate the current domestic and international situation and set out the guidelines, goals, tasks and key measures for the next five years.

A draft version of the proposals for the 12th five-year programme has been distributed to several delegates of the CPC's 17th National Congress and other organisations outside the Party.

The document was revised based on their suggestions.

Sources from the CPC said that the proposals, from the Party and other organisations, will become the guidelines for China 's continued reforms and its opening-up process as well as modernising socialism./.