State Council: Recovery still faces problems

The central government's stimulus package has spearheaded China's recovery from the global financial crisis. But many problems, including inflation, still lie ahead.

The State Council's meeting on Wednesday chaired by Premier Wen Jiabao reviewed the country's first-quarter economic performance. The State Council pledged to maintain the appropriately loose monetary and active fiscal policies that were implemented at the height of the global financial crisis in late 2008.

It also said that inflationary expectations were intensifying and that it would move to curb excessive housing bubbles. China will release its first-quarter GDP growth figure on Thursday. Market forecasts predict China's economy grew 11 and a half percent year-on-year, with a 10.7 percent growth in the fourth quarter alone.

Meanwhile, the National Bureau of Statistics will release macro figures for the first quarter on Thursday. These include GDP, CPI and retail sales. We will bring you the full report on tomorrow's show.