China's economy slowed in the second quarter

Annual gross domestic product growth moderated to 10.3 percent from 11.9 percent in the first quarter.

One analyst (Don Straszheim, senior managing director & head of China research at ISI Group) thinks China's economy may slow further to 7 percent by year-end.

“I think there is more risk in China that the economy gets too slow, than the inflation rate gets too hot,” he told CNBC on Thursday.