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"For some irregularities in the history of some private enterprises, (we) should see the problem in the light of the development and follow the principle of 'crimes and punishment stipulated by law' and the principle of 'innocent until proved guilty', so that entrepreneurs can unload their mental burden and move on," Xi said.

"Fiscal stimulus is supporting China's economy through a mix of business and household tax changes and infrastructure spending. While the extent to which private businesses and consumers will respond to tax cuts is unclear, we expect the effects of additional infrastructure support to become apparent in 2021," said Bokil.

"Four leaders from Shagang have been dismissed from their posts or demoted. A special team has been sent to Shagang and will work with third-party organizations to scrutinize its problems."

"Financial support such as special funds are available for key development projects, and numerous pilot programs are also underway across the country, including the IoT industrial development clusters in the Bohai Sea Rim, the Yangtze River Delta and the Pearl River Delta regions," said Sun Fuquan, a researcher at the Beijing-based Chinese Academy of Science and Technology for Development.

"Guo is still pursuing his appeal. How much compensation can bring him justice? Maybe it is not about money," Luo says.