China posted better-than-expected first quarter GDP growth of 7.4%, BBC News reported, citing official data released on Wednesday. But it is a slowdown from 7.7% growth in the final quarter of last year. Other data released showed industrial output rising 8.8% in March from one year ago. Last year China set its growth target for 2014 at 7.5%. China’s growth data is closely watched around the region. A slowdown could hurt Asian economies especially those which export commodities and industrial components to the world’s second-largest economy.