It was unveiled at the start of the National People's Congress, an annual gathering of Chinese lawmakers in Beijing.
Not only will it deliberate constitutional changes that, among other things, will stress the leadership of the CCP in China's governance, but it will also elect new state leaders including the president and premier - with Mr Xi and Premier Li Keqiang are expected to stay on - as well as the NPC chairman and central bank governor, among other positions. In 1951, an amendment to the US constitution was passed to formally restrict presidents to two terms.
China's Communist Party has long claimed sovereignty over the self-governing island of Taiwan - and a degree of authority over all ethnic Chinese, regardless of nationality - but its attitude toward the Chinese diaspora has been a source of growing friction with foreign governments over the past year.
Economic issues typically dominate the conferences, but the sessions this year could be overshadowed by a controversial proposal to amend the constitution to remove term limits and allow Xi to remain in office indefinitely.
In an editorial on Tuesday, China's state-run Global Times criticised Western critics whose motives were put down to running scared from, "the rise of China and reaching a critical point where some Westerners can not psychologically bear it any longer".
The government set an economic growth target of around 6.5 percent for 2018, in line with expectations but lower than the 6.9 percent GDP increase in 2017.
Last year military spending was budgeted to increase by just 7 percent, to 1.044 trillion yuan ($164.60 billion) about one-quarter of the proposed USA defence spending for the year.
Referring to the ongoing talks, Zhang said for the past couple of days, China and the United States had consultations over the trade issues and agreed to hold the talks in Beijing to deepen the bilateral cooperation. A USA official said Friday no countries will be exempt, but added that possible exemptions to the measures would be considered on a case-by-case basis. He said the military would "firmly and resolvedly safeguard national sovereignty, security and development interests".
Xi's ambitious "Belt and Road" initiative to link up Asia and Europe by building roads, ports and other infrastructure has raised concerns about Beijing's strategic ambitions and debt burdens for host countries. Members of the ceremonial legislature, unsurprisingly, expressed support for the scrapping of term limits. He has also pursued a relentless but popular campaign against corruption that has punished more than a million party officials.