Institutions reduce China growth outlook

For China's growth expectations, the recent flurry of sluggish macro data is also dampening institutional investors' growth forecasts.

Banks as well as securities companies see weaker-than-expected real GDP figures for this year, plus a softer inflation rate and lower growth in credit supply. For the second-quarter, Bank of America Merrill Lynch slightly lowered its forecast to between 7.6 and 7.7 percent year on year - from a 7.7 percent projection earlier. ANZ Bank in the meantime cut its full-year outlook for both 2013 and 2014. Some analysts are expecting the People's Bank of China to take further bold monetary loosening steps in coming months to re-ignite growth.

The National Bureau of Statistics will release the second-quarter GDP data for China on July 15.