Key meeting of China's political elites underway in Beijing

Several hundred top members of the Chinese Communist Party are meeting behind closed doors this week in Beijing, where they will map out key plans for the nation’s future.

Why it matters: It’s the last major meeting before next year’s party congress, when Chinese President Xi Jinping is expected to be appointed for a third term after he successfully pushed to abolish term limits in 2018.

Get market news worthy of your time with Axios Markets. Subscribe for free.

  • The meeting, known as the sixth plenum, is imbued with special significance, since it is occurring in the same year as the CCP’s 100th anniversary.

What to watch: Xi is expected to deliver a resolution on the party’s history —becoming only the third Chinese leader to issue such a proclamation, after Mao Zedong and Deng Xiaoping.

  • “The 1945 resolution affirmed Mao’s leadership in the CCP, and the 1981 resolution was about turning a new page from the decade-long destructive chaos of Cultural Revolution Mao created,” Dali Yang, a political scientist at the University of Chicago, told The Guardian.

  • “This year’s resolution will be somewhere in between — the party’s past and Xi’s future.”

Details: The Chinese Communist Party’s Central Committee, comprised of more than 300 top party members, meets for a plenary session each year.

  • The members of the current Central Committee were selected in 2017; this is the current committee’s sixth plenary session.

  • A new committee will be selected next year at the party congress.

Go deeper: At 100, Chinese Communist Party claims credit for the Chinese dream

More from Axios: Sign up to get the latest market trends with Axios Markets. Subscribe for free

source: yahoo.com