China’s gross domestic product grew 6.7 percent in the first quarter of the year, in line with expectations, but still registering as the slowest growth in seven years.

This 6.7 percent increase is slightly lower than the 6.8 percent recorded in the previous quarter.

Chinese authorities have vowed to keep GDP growth above 6.5 percent as part of their current five-year economic plan, which runs until 2020.

Total retail sales of consumer goods increased 10.3 percent over the first quarter in 2015, with online sales up 27.8 percent on the year. At the same time, consumer prices rose 2.1 percent over all categories.

Meanwhile, imports and exports contracted 5.9 percent, with exports down 4.2 percent and imports falling 8.2 percent over the same period in 2015. Overall, China’s trade surplus grew 8.6 percent.

Premier Li Keqiang said last week predicted growth would be “better than expected” as exports rebounded in exports, inflation firmed and housing gained strength.