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More details on the planned reform have been released by authorites in China.
A landmark1 policy document says China will open up the banking2 sector3 even wider, on condition of strengthened regulations.
It says qualified4 private capital will be allowed to set up small- and medium-sized banks.
It has also been decided5 that China will abolish the "reeducation through labor6" system as part of efforts to improve human rights and judicial7 practices.
The country will also reduce the number of crimes subject to death penalty step by step, while reinforcing grass-roots law-enforcement in sectors8 related to people's livelihood9.
The decision says China will loosen its decades-long one-child population policy.
Couples will be allowed to have two children if one of them is an only child.
China will also accelerate the reform of the household registration10 system.
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