China's economy grew at its slowest pace in six years last quarter, according to data released Wednesday, raising fresh concerns over the condition of the world's second largest economy.
Growth declined to 7 percent in the first quarter of 2015, down from 7.3 percent in the previous quarter. That is the slowest quarterly growth rate since early 2009 during the aftermath of the global financial crisis.
China's ruling Communist Party has set a modest target of 7 percent growth for 2015. While that rate of expansion would be among the fastest of any major economy, it would be China's slowest pace in a quarter of a century.
Reacting to the figures, a spokesman for China's National Bureau of Statistics said Wednesday that Beijing expected the slowdown. He said the government attributes this to "sluggish global economic recovery" and "ongoing structural reforms."