China's first quarter macroeconomic data has released and it showed that the short-term inflation pressure on the economy has declined. However, China’s economic growth also has weakened whereby the first quarter economic growth is lower than expected. This verifies ANBOUND’s judgment that China’s economic recovery is rather weak and there are also signs of slight economic recession. Does China’s economic condition in the first quarter reflect the entire year? Will it lead to any policy changes? These issues are worth exploring.