Judging from the economic data released so far this year, China's first-quarter GDP growth rate will probably be about 7.3 percent, said DBS Bank (Hong Kong) Ltd on Thursday.

Considering the central government's determination to achieve structural reform, the outlook for consumption and a lukewarm export outlook, the bank said 7.5 percent GDP growth will be a "hard nut to crack" this year.

Lily Lo, an economist at the bank, said: "Premier Li has made it clear that 7.2 percent GDP growth is the bottom line to secure employment. It looks like structural reform is a more important task than growth this year for the central government. It will not be a surprise to see GDP growth sit at 7.3 or 7.4 percent by year-end."