China’s GDP growth slowed to 7.4% in the first quarter from 7.7% of the fourth quarter last year, mainly dragged down by slower investment growth, according to the National Bureau of Statistics.
The GDP growth is largely in line with market expectations of 7.3%.
"We maintain our view that GDP growth is on a downtrend and we continue to expect it to slow to 7.1% the second quarter," Nomura writes in a report.
But Athe ustralia and New Zealand Banking Group (ANZ) says it expects the Chinese to rebound to 7.5% in second quarter. It sees the economy moderate to 7% to 7.2% in the second half of this year.