China will released second quarter GDP and other June data this Friday.  What are institutions forecasting?

Most domestic institutes thought China's second-quarter growth was stable. Bank of China, Bank of Communications all projected that Q2 GDP would be about 6.7 percent year on year. That's in line with the first quarter's reading. China International Capital Corporation projected that Q2 GDP will decrease slightly to 6.6 percent. CICC said the decrease will come because China's manufacturing and finance industries were weaker in growth.

Overseas institutes hold conservative views on China's growth in the second quarter. Nomura forecast the figure at 6.3 percent. Societe Generale, Citibank and Credit Suisse all projected the growth at 6.5 percent.

A recent report from the National Academy of Economic Strategy forecasts that China's second-quarter growth will be 6.7 percent, while the full year's reading will be around 6.6 percent. That's higher than the target of 6.5 percent. The report also warned that China's economy will still face headwinds in the second half of this year.