Jason Lee / Reuters

Delegates sit at the stage before the opening ceremony of 18th National Congress of the Communist Party of China at the Great Hall of the People in Beijing, November 8, 2012.

Reuters

A combination photo shows Chinese former President Jiang Zemin reacting as he attends the opening ceremony of 18th National Congress of the Communist Party of China in the Greet Hall of the People at the Great Hall of the People in Beijing, Nov. 8, 2012.

Vincent Yu / AP

A Chinese soldier dressed as an usher sits on a chair Wednesday, Nov. 7, 2012, at the Great Hall of the People in Beijing, China, where the Chinese Communist Party's 18th National Congress is scheduled to begin Thursday, Nov. 8.

The Communist Party Congress, being held at the Great Hall of the People in Beijing, China, began today and runs through Nov. The once-a-decade event installs a new leadership to run the world's second largest economy. China's outgoing President Hu Jintao said the nation faced risk and opportunity in equal measure as he formally opened a congress. The week-long event is expected to culminate in the election of Xi Jinping as the next party leader. 

Story: China launches once-in-a-decade changing of the guard