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Though China posted its slowest annual growth in a quarter of century last year, policy makers have refrained from taking any radical stimulus moves. Instead, they have resorted to supply-side reforms to optimize the economic structure, prune industrial overcapacity, slash costs, and boost efficiency.

The State Council has just given the go-ahead to a venture capital plan in July, aiming to empower entrepreneurial innovation and boost industrial upgrading.

The financial injection seemed to have worked a spell. By 2015, per capita income of Luotuozhuang residents had tripled from 2012 levels to nearly 3,000 yuan.

In Ningxia, officials from Yongning County were held liable for failing to shut down a metalware factory that had been the subject of public ire because of its smoke and dust emissions. The official line was that the factory had ceased production in August 2015, but it appeared to have continued to operate right up to July 2016.

"The blueprint provides us with the consensus, action plan and the overall framework to open up a new path for global growth and increase medium- to long-term potential of the world economy," he said.