BEIJING - The five years from 2011 to 2015 are a critical stage for China to build a moderately prosperous society in an all-round way, the Central Committee of the Communist Party of China (CPC) said on Monday.

In setting 12th Five-Year Plan, the CPC "must adapt to the changes of domestic and international situations and comply with the people's new expectations of living a better life," said a communique issued at the close of the Fifth Plenary Session of the 17th CPC Central Committee.

The 12th Five-Year Plan period was also a time of difficult issues for deepening the reform and opening-up process and accelerating the transformation of the nation's economic development pattern, said the communique.

"China is still in an important period of strategic opportunities during which there is a great deal China can achieve. The nation is faced with both precious historic opportunities and plenty of foreseeable and unforeseeable risks and challenges," said the communique.