Recovery on track, though pace may slow

Following higher-than-expected growth in March, China's macro economic recovery is expected to continue in April, analysts said, although the momentum may ease compared with that of the previous month.

The country's Purchasing Managers' Index, released by the National Bureau of Statistics earlier this month, slightly dropped to 50.1 from 50.2 in March. But this is still expansionary territory, which indicates that manufacturing production growth remains on track.

The authorities' policy of stabilizing growth is also set to continue to take effect after the first quarter, UBS economists said in a research note.