China's 20th Communist Party Congress kicks off Sunday: What you need to know

Chinese President Xi Jinping will kick off a historic congress of the ruling Communist Party on Sunday where he is poised to win a third term that solidifies his place as China's most powerful ruler since Mao Zedong.

There isn't much information about who will be promoted into which key roles on the Politburo and its seven-member Standing Committee. 

China is facing a slowing economy due to various factors and leaders will face a difficult time. The world's second-largest economy is slowing and facing a potentially painful rebalancing of its investment- and property-led model.

Questions over the country's strict zero-COVID policy are also on everyone's minds. The Congress is expected to tackle the matter of whether and how to exit the policy.

Rising tensions over Taiwan and high-profile protests over several issues this year are also likely to take centerstage. Markets will be keeping an eye on how Beijing manages these challenges.

Covid-19 curbs and security measures are being tightened for the once-every-five-year event. Over 2,300 party members will come together at the vast Great Hall of the People on Tiananmen Square for the Congress.

Rare protests are being witnessed in Beijing ahead of the meet. Authorities removed banners of political protest from an overpass in Beijing, images circulated on social media on Thursday showed.