Quake hardly jolts China's economy

Inflation is another market concern. The Barclays report said the quake will cause local food shortages, especially vegetables, but the pressure on food prices will be short.

The quake has has not impacted major producing areas for swine and grain in Sichuan. Supplies may be temporarily tight, but this can hardly reverse a recent downward trend for prices of pork, a staple meat in China, Fan said.

Easing food prices have sent China's inflation rate to 2.1 percent in March, down from February's 3.2 percent.

Infrastructure facilities were badly damaged in some local communities, but had been restored in a much quicker fashion. By Monday, major towns had seen power supplies and communication systems resumed.

"The employment of professional rescue staff and orderly government management have minimized losses and made rescue work more efficient," Wang said.

The reconstruction of quake-hit areas will help boost local economies as consumption demand rises, and more importantly, offer a trial zone for the country's urbanization drive, a channel to tap domestic demand, analysts noted.

Lian Ping, chief economist at the Bank of Communications, said the government shall seize the opportunity to build new counties that feature low-carbon, environmentally-friendly and green concepts, a target outlined in the country's development plan.

During a March inspection to Jiangsu province, Premier Li Keqiang elaborated on the significance of new counties, saying they are an important link between the city and the countryside.