BEIJING, Oct. 31 -- Qiushi Journal, a flagship magazine of the Communist Party of China (CPC) Central Committee, will publish the Explanation of the Recommendations of the CPC Central Committee for Formulating the 15th Five-Year Plan for National Economic and Social Development on Saturday in the magazine's 21st issue of this year.

The explanation was made by Xi Jinping, general secretary of the CPC Central Committee, at the fourth plenary session of the 20th CPC Central Committee.

Formulating the 15th Five-Year Plan is of great importance for facilitating economic and social development and laying a more solid foundation for basically achieving socialist modernization, said Xi, who is also Chinese president and chairman of the Central Military Commission.

The explanation expounds on key issues including the important position of the 15th Five-Year Plan period, economic and social development objectives for the period, as well as promoting high-quality development.

It also focuses on strengthening the domestic economy and promoting unimpeded domestic and international economic flows, making solid progress toward realizing common prosperity for all, coordinating development with security, and upholding the overall leadership of the Party.