China's gross domestic product grew 7.4 percent in the first quarter of 2014, weaker than the 7.7 percent recorded in the October-December period and the worst pace since a similar 7.4 percent expansion in the third quarter of 2012.

Wang Jun, a researcher at the China Center for International Economic Exchange, said the government's mini-stimulus measures helped stabilize market expectations and boosted confidence.

The government's policy fine-tuning in April came a bit early this year, as similar measures were launched in June and July last year.

However, the pressure for the world's second-largest economy persists, such as overcapacity, shadow banking and a cooling real estate market will continue to weigh on the economy "for a couple of years," Wang said.

Arresting the economic slowdown is important as China needs a sound environment for structural reforms.

"If expectations continue to worsen, it will do no good for economic restructuring and deeper reforms," he warned. "We can't lower our guard too early as industrial growth has been below 9 percent for several months."

Industrial profit growth slows	Jan-April industrial added value up 8.7%