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China's Communist Party proposes eliminating presidential term limit

China's Communist Party has proposed eliminating a two-term limit on the presidency, a move that could potentially pave the way for Chinese President Xi Jinping to maintain his authority years after his second term expires, according to a report by The Wall Street Journal.

Xi has reportedly gained more power and control over the country during his first term. His second term as Communist Party chief and president is set to begin in March and expire in approximately five years, according to the report.

The party's proposal, reported by the official Xinhua News Agency on Feb. 25, is part of a set of constitutional amendments that lawmakers are scheduled to vote on at the annual meetings of the National People's Congress beginning March 5.

The plan calls for the removal of a clause prohibiting the president and vice president from serving more than two consecutive terms, according to the Journal's report.

Xi is expected to preside over the Communist Party convention at the end of February where the party will approve China's next regulators overseeing finance and monetary policy, as well as other government officials, Bloomberg News has reported, citing people familiar with the matter.