China's ruling Communist Party proposes to hold its 20th Congress in Beijing on October 16 which is widely expected to endorse an unprecedented 3rd term for President Xi Jinping.

A meeting of the Political Bureau of the Communist Party of China (CPC) held on Tuesday decided that a plenary session consisting functionaries of the party will be held on October 9 during which it will be proposed that the 20th Congress will be held on October 16 in Beijing, state-run Xinhua news agency reported.

Political bureau meeting presided over by Xi stressed that the 20th CPC National Congress is a congress of great significance to be convened at a crucial moment, as the whole Party and the entire nation embark on a new journey toward building a modern socialist country in all respects, and advance toward the Second Centenary Goal.

The CPC holds its all-important Congress once every five years during which it reviews the government and party work and endorse plans for the remaining five years. 

Under the prevailing party conventions, the leadership and top officials change every 10 years.

Unlike his predecessors, who retired after 10 year tenures, 69-year-old Xi, who will be completing his second five year tenure this year, is widely expected to be endorsed for a third term at the 20th Congress.

Xi, regarded as the most powerful heading the Presidency, the party and the military, has been designated previously as a leader on par with party founder Mao Zedong, who remained in power until his death in 1976.