The Communist Party of China will hold a Central Committee plenary session in Beijing from October 15 to 18, prompting speculation from overseas media on possible changes in China's political landscape and leadership.

The Fifth Plenary Session of the 17th CPC Central Committee (CPCCC), is of great importance and will have a far-reaching influence on China in terms of both its economy and its politics, analysts say.

The decision was made by the Political Bureau at a Tuesday meeting, which also discussed proposals for China's 12th Five-Year Plan (2011-15).

The document, following further revisions based on suggestions put forward at the meeting, will be reviewed at next month's plenary session.

As a road map for the economy, politics, society, culture and environment, the next five-year plan will focus on solving China's economic bottlenecks, but also keep some favorable policies.

Zhu Baoliang, a researcher with the State Information Center, argued Wednesday that accelerating the shift of the economic growth pattern would be the key issue in the coming five years, while the government should accept a GDP rate as low as 8 percent and an inflation rate as high as 5 percent.

The overseas media, however, have put their attention mainly on the change in China's leadership, especially with 2012 approaching, when the CPC is expected to hold its 18th National Congress and top Party leaders will face a new round of changes.