China Q1 GDP slows to 7 per cent, more easing expected

Beijing

CHINA'S economy grew 7 per cent in the first quarter, and this slowest quarterly growth in five years has put pressure on Beijing to ease its monetary policy further.

The figure, slightly above analysts' expectations, is in line with the government's forecast of annual gross domestic product (GDP) growth of "about 7 per cent". In the previous quarter, the Chinese economy grew 7.3 per cent; for the whole of last year, the figure was 7.4 per cent, as the country faced headwinds in its real estate sector, high corporate debt levels and an inefficient and over-capacitated industrial sector.