Socialism with Chinese characteristics has entered a new era, Xi Jinping said Wednesday at the opening session of the 19th National Congress of the Communist Party of China (CPC).

"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," he said while delivering a report.

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