For more about China's economic data in the first quarter, we have additional insights from a number of analysts.

"The Q1 data showed that the Chinese economy is gradually recovering in March from the gloomy situation in January and February, which was a moderate rebound trend. All figures, in fact, were much better in March than the previous two months, especially in the investment and property sectors. They also boost the prices of raw materials, like steels and cement. Better market demand also drove the prices of commodities. 2016 is the first year of the 13th 5-year plan. China has some projects to launch. Meanwhile, we have the supply-side reforms, we are cutting taxes as well. These measures are taking effect. So I am cautiously optimistic about China's economic growth in 2016," said Yan Se, senior economist of Standard Chartered.

"Last year, services had accounted for 50 percent of the total GDP in China, which accounts about 70 to 80 percent in developed economies. So there is big room for the Chinese services sector to develop in the future. Moreover, we can see that consumption is contributing more than 60 percent to GDP. These are all good signs, reflecting that the Chinese economy is switching to the consumption and services-driven direction," said Ge Ganniu, CEO of DBS.