Experts upbeat about economy

China's stronger-than-expected economic growth in the first quarter has prompted economists to raise their full-year forecasts, lifting confidence about the resilience of the economy.

Several international financial institutions, including Deutsche Bank AG, JPMorgan Chase & Co and Nomura Securities Co, have revised up their prediction about the performance of the economy this year, following the release of positive economic data on Monday.

Zhang Zhiwei, chief China economist at Deutsche Bank, raised the forecast for China's full-year GDP growth rate to 6.7 percent, saying that he did not see the immediate need for the government to launch a new round of fiscal stimulus.