Former presidents Jiang Zemin and Hu Jintao sing the national anthem next to China

The Thought on Socialism with Chinese Characteristics for a New Era “represents the latest achievement in adapting Marxism” in China, he said.

The Communist Party of China’s General-Secretary Xi Jinping has unveiled what is thought to be its new program for the coming years at the opening session of the 19th National Congress of the Communist Party of China (CPC).

The full title of Xi’s working report that he presented is “Secure a Decisive Victory in Building a Moderately Prosperous Society in All Respects and Strive for the Great Success of Socialism with Chinese Characteristics for a New Era.”

Xi’s speech kicked off the twice-a-decade congress, a week-long conclave that will culminate with the selection of a new Politburo Standing Committee that will guide the Party for the next five years.

The thought “builds on and further enriches Marxism-Leninism, Mao Zedong Thought, Deng Xiaoping Theory, the Theory of Three Represents, and the Scientific Outlook on Development,” Xi Jinping said while delivering the report, referring to the names of past successive leaders’ ideological frameworks.

WATCH: Xi Jinping Speaks at Paris 2015 Climate Change Conference

The Thought on Socialism with Chinese Characteristics for a New Era “represents the latest achievement in adapting Marxism to the Chinese context,” he added.

Xi defined components of the thought, calling it a “guide to action” that must be adhered to and steadily developed on a long-term basis for all Party members and all Chinese people in their efforts to achieve national rejuvenation, China’s official Xinhua news agency reported.

“National rejuvenation” is a slogan closely associated with Jiang Zemin’s leadership generation from the late 1980s. The phrase was folded into the “Chinese Dream” line introduced by Xi in 2012, which envisions China’s transformation from a moderately well-off country into a fully-developed one by 2049, when the centenary of the founding of the People’s Republic of China’s will be marked.

“We will unite the Chinese people of all ethnic groups and lead them to a decisive victory in building a moderately prosperous society in all respects and in the drive to secure the success of socialism with Chinese characteristics for a new era,” Xi added.

China Sets Communist Party Congress For Oct. 18

Xi also noted that the Party would let the market play a decisive role in resource allocation in the economy. Beijing has called for a greater role for market forces in the economy in order to improve efficiency and develop a more sustainable growth model.

China is still in an important period of strategic opportunity for development. The prospects are bright but the challenges are severe, he said.