World Bank, Barclays raise GDP forecast for nation

Foreign institutions have raised their forecasts for China's economic growth this year amid the nation's better-than-expected first-quarter performance, strong policy stimulus and resilience in exports.

While Barclays recently revised upward its China GDP forecast from 4.4 percent to 5 percent, the World Bank readjusted its expectations from 4.5 percent to 4.8 percent.

China's economy is on track for a steady rebound and the nation is poised to meet its preset annual growth target of around 5 percent, experts said.