According to the latest data released by the government, the Chinese economy grew by just 7.7 per cent during the first three months of the year.

Even as the rate of 7.7 per cent is high higher than that recorded in advanced western economies, it is much lower than the growth expected by Chinese leaders and analysts for the emerging economy. The country's Gross domestic Product had risen 7.9 per cent during the previous three months. Analysts were expected the economy to grow at 8 per cent in a poll conducted by Reuters.

Experts say that the lower growth in industrial output showed signs of weakness in the economy. The growth fell to 8.9 per cent compared to the previous year, which is its lowest growth since August 2012. They say that the slowdown in the world's second largest economy might continue as the government moves to control the property prices and due to growth of lending outside of the country's banking system.

Sheng Laiyun, a spokesman for the Chinese statistics bureau said, "Our overall judgment is that, although there was a slight dip in growth in the first quarter, it was generally speaking a steady start with stable progress. China's basic circumstances have not undergone any fundamental shift, and it still has the conditions for maintaining sustained and healthy economic development over the long term."

Mr. Sheng said also said that China's industrialization and urbanization would result in higher growth in the coming future.