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China's manufacturing sector saw its expansion slowed in April, with the manufacturing purchasing managers' index (PMI) falling to 51.2 from 51.8 in March, according to NBS data.

China's growing reliance on spot purchase means importers will play an increasing role in balancing the global LNG markets and moving international prices, he said.

China's economic recovery has picked up steam in the wake of the COVID-19 pandemic, with the nation's GDP expanding 4.9 percent year-on-year in the third quarter of 2020. The International Monetary Fund forecasts that China will be the only major economy to see growth this year.

China's economy grew at an average annual rate of 9.8 percent between 1979 and 2012, dwarfing the global growth of 2.8 percent in the same period.

China's economic growth results are expected to remain stable not only in 2017 economic reports yet to be released but also in 2018, despite a slight decline in a major index measuring the expansion of the manufacturing sector in December, analysts said.