China's ruling Communist Party will open its five-yearly National Congress on October 16, the Politburo announced on Tuesday.

The meeting, which typically lasts about a week and is held mostly behind closed-doors, is the highest level political conclave of the country's leaders to formulate major policy and elect a new party Central Committee.

It is closely watched by analysts for clues on the country's future direction and leadership succession plans.

The congress will be presided over by President Xi Jinping, who is expected to secure an unprecedented third term and consolidate his status as the most powerful Chinese leader since Mao Zedong.

The event will see about 2,300 Communist Party delegates from across the country descend on Beijing to pick the 200 or so members of the Communist Party's Central Committee.

The committee will then vote for the 25-person Politburo and its all-powerful Standing Committee - China's highest leadership body - which is currently comprised of just seven people.

Xinhua said the Politburo met on Tuesday to discuss the preparatory work for the party congress.

"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," the report stated.

The Politburo also decided that the seventh plenary session will start on October 9. (Agencies)