China`s Communist Party to hold key meeting in October: Xinhua

Beijing: China`s Communist Party will hold a full meeting of its central committee in October to set the course of the world`s second-largest economy for the next five years, state media reported Monday.

Market economics have played an increasingly important role since reforms began under Deng Xiaoping in the late 1970s, in a system dubbed "socialism with Chinese characteristics", but the country is still guided by a series of Five-Year Plans.

The central committee meeting, or plenum, will be the fifth since President Xi Jinping ascended to power as the ruling party`s general secretary in 2012.

The Fourth Plenum held last year focused on the legal system, while the Third Plenum in 2013 was centred on economic reforms. 

China`s next five-year plan will run from 2016 to 2020, according to the official Xinhua news agency. The Communist Party`s Politburo announced the plenum after a meeting earlier Monday, it said.