The Fifth Plenary Session of the 16th Central Committee of the Communist Party of China (CPC) will open in October this year, according to a meeting held by the CPC Central Committee Political Bureau on Monday.

The meeting, which was chaired by Hu Jintao, general secretary of the CPC Central Committee, mainly discussed China's current economic situation and economic work.

The CPC Central Committee Political Bureau deliberated on the formulation of the 11th Five-Year (2006-2010) Plan for the national economy and social development during the meeting. It said the 11th Five-Year period is the key time for the all-round construction of a wealthy society in China.

The formulation of the 11th Five-Year Plan is to be guided by the Deng Xiaoping Theory, the important thought of Three Represents, the conception of scientific development and the strategy of development, with adherence to the focus of economic construction.

This year's economic reforms in major fields and the macro-control work have made progress, with the national economy having maintained stable and rapid growth.

In the first half of this year, China's gross domestic product (GDP) increased 9.5 percent year on year to 6,742.2 billion yuan (832.37 billion US dollars), according to the National Bureau of Statistics (NBS).

In the latter half of this year, the task for reform and development will still be arduous, said the meeting. The meeting called for various regions and departments at all levels to continue implementing the concept of scientific development and enhancing economic macro-control through sticking to prudent fiscal and monetary policy.

The meeting showed special concern over reforms in important sectors, ordinary people's lives, social stability as well as the new problems in the economy.

In the first half of this year, China's primary industry reported a value added of 670.7 billion yuan (82.8 billion US dollars), up 5.0 percent; the secondary industry, 3, 963.5 billion yuan (489.32 billion US dollars), up by 11.2 percent; and the tertiary industry, 2,108.0 billion yuan (260 billion US dollars), up by 7.8 percent, according to the NBS.

Source: Xinhua