We told you this morning about changes announced in China regarding the country's one-child policy, as well as an announcement that it was ending its system of labor camps. But those aren't the only policy shifts by the Communist Party.
China also said Friday that it would loosen restrictions on foreign investment in e-commerce and other businesses, and allow private competition in state-dominated sectors.
The Associated Press says the changes "could be China's biggest economic overhaul in two decades." Here's more:
"Chinese leaders are under pressure to replace a growth model based on exports and investment that delivered three decades of rapid growth but has run out of steam. Reform advocates say Beijing must curb the privileges and dominant role of state companies they say are inefficient and a drag on growth."