China's recorded gross domestic product (GDP) growth rate of 6.7 percent during the first quarter of 2016 was on track with the country's annual target of between 6.5 and seven percent.

Citing a report released by the National Bureau of Statistics, USA Today revealed that although it was lower by one notch as compared to the previous quarter, certain signs that the world's second largest economy is rebounding as its economy has been observed to be stabilizing since the economic crisis in 2009 have been observed.

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It can be recalled that during the crisis, China's growth rate dipped, reaching only 6.2 percent.

Aside from the exports showing growth in March and car sales jumping by 10 percent, the government has also been implementing measures such as cutting interest rates while investing in infrastructure projects to prevent the country from experiencing further economic slowdown.

In the meantime, Louis Kuijs of Oxford Economics pointed out through an interview with CNN Money that despite the decrease, it can still be noted that it is still "a milder deceleration than many had feared until recently."

"This recent improvement in momentum should continue to support the economy in the [second quarter]," he said about China's growth rate.

He added that "the government will need to continue to rely on stimulus, notably infrastructure investment," for it to achieve its economic targets.

Meanwhile, CNN Money shared the results of its survey conducted prior to the National Bureau of Statistics announcement.

According to the economists surveyed, the economic slowdown could be attributed to the Chinese government's efforts to move toward the service sector from manufacturing as its main economic driver.

Amid this condition, UBS economist Ning Zhang showed optimism that the upcoming data will already spell a rebound for China as it reaches a higher growth rate. 

Tagschina, growth rate, china's economy