BEIJING -- The fourth plenary session of the 20th Communist Party of China (CPC) Central Committee will be held in Beijing in October, according to a decision made at a CPC Central Committee Political Bureau meeting on Wednesday.

According to the main agenda of the session, the Political Bureau will report its work to the CPC Central Committee, and the session will study the proposals for formulating the 15th Five-Year Plan for national economic and social development.

Xi Jinping, general secretary of the CPC Central Committee, chaired Wednesday's meeting.

The meeting also analyzed and studied the current economic situation and made arrangements for economic work in the second half of this year.

It was noted at the meeting that the 15th Five-Year Plan period (2026-2030) is a crucial phase for consolidating the foundation and making all-round efforts to basically realize socialist modernization.

China's development is facing profound and complex changes, as strategic opportunities, risks, and challenges are concurrent and uncertainties and unforeseen factors are rising. Meanwhile, the country's economy is underpinned by a stable foundation, multiple advantages, strong resilience, and great potential, and the supporting conditions and fundamental trends for long-term sound economic development have not changed. The strengths of socialism with Chinese characteristics as well as the country's enormous market, complete industrial system and abundant talent resources are becoming more pronounced, according to the meeting.