But J.P. Morgan Asset Management said Beijing could hold back new momentum. In particular, the Chinese central bank would support further easing of monetary policy to avoid further accumulation of debt, said Tai Hui, the company's main market strategist for the Asia-Pacific region.
"We should remember that this year's growth target is 6-6.5. The recent 1Q figure is already reaching the upper end of this range," the strategist wrote in a note.
Prior to the release of Wednesday's official data, some recent indicators – private and official sources – pointed to an improvement in the Chinese economy, also thanks to stimulus packages in Beijing. In March, China reported much higher exports than expected and an unexpected expansion of its production activity.
This suggests several experts believe that the Chinese economy may have bottomed out and is now recovering.
The tariff fight between China and China China and the USA were hit by economic activity worldwide, especially in the second half of last year. This put additional pressure on China as the country sought to reduce its economy from over-reliance on debt in order to grow, leading to concerns that the Asian giant was heading for a hard landing.