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China's GDP was stable in the first quarter but March data points to weakness ahead, led by the eased growth of industrial production and slowed fixed asset investment. The PPI rose 3.1 percent year-on-year in March down from 3.7 percent in February, according to the National Bureau of Statistics.

China will continue to support the multilateral governance system, especially under the framework of the Group of 20 to facilitate inclusive growth, innovation and cross-border infrastructure investments, said the former deputy minister.

China will expand the scale of subsidized loans and increase risk tolerance on loans to pig farmers as part of efforts to boost hog production.

China's PPI dropped 0.8 percent year-on-year in August last year, but has returned to positive territory. In the first quarter of this year, China's GDP growth was 6.9 percent, beating market expectations and laying a solid foundation for China to meet its pre-set annual growth target of around 6.5 percent for this year.

China will use market-oriented legal measures to strengthen policy control and guide companies to cut overcapacity and outdated capacity to establish a long-term market clearing mechanism in order to improve the quality and structure of its industrial capacity in 2018, said He Lifeng, minister of the National Development and Reform Commission.