Quarterly GDP growth may reach record high

Policy stance

Premier Li Keqiang reiterated at a symposium with experts and entrepreneurs on Friday the need to maintain the continuity, stability and sustainability of macro policies.

While concerns are rising that a spike in commodity prices could lead to policy tightening ahead of schedule, experts said imported inflationary pressure is unlikely to derail the Chinese central bank's "no sharp policy shift" stance.

Cheng Shi, chief economist at ICBC International, said imported inflationary pressure is expected to continue for some time, but China's prudent policy stance has helped cushion the impact, while rising commodity prices have only passed through to consumers in a limited way.

With major risks regarding consumer inflation at bay, monetary policy is expected to stay true to the "no sharp policy shift" commitment, Cheng said, adding that the country's annual economic growth may land at about 9 percent after surging to 18 percent in the first quarter.

Iris Pang, chief China economist at Dutch bank ING, said China's economic momentum is expected to stay solid this year, with quarter-on-quarter economic growth to stabilize between 1 and 2 percent, though year-on-year readings will slow as the base effect fades.

Domestic consumption will remain the stabilizer for the economy, while digital infrastructure investment is expected to be the growth engine, Pang said.

Ouyang Shijia contributed to this story.