The National Bureau of Statistics (NBS) said on Wednesday that China's gross domestic product (GDP) grew at an annual rate of 7.0% in the first quarter of 2015, in line with expectations, down from a 7.3% in the fourth quarter of 2014.

It was the slowest pace since the first quarter of 2009.

"Despite the slowing down of economic growth, employment, consumer price and market expectation remained stable," the NBS said.

"Positive factors were accumulating with restructuring work advancing steadily, transformation and upgrading showing good momentum, and new impetus experiencing rapid development," the NBS added.