China's industrial production and retail sales increased at a steady pace in May, while property investment growth softened signaling a slowdown in overall activity in the second quarter, says rttnews.

The annual growth in industrial production held steady at 6.5 percent, data from the National Bureau of Statistics showed Wednesday. Output was forecast to expand 6.4 percent.

Retail sales grew 10.7 percent year-on-year in May, the same pace of growth as seen in April and in line with economists' expectations.

During January to May, fixed asset investment increased 8.6 percent from the same period of the previous year, which was slower than the 8.8 percent growth economists had forecast and the 8.9 percent rise logged during the January to April period.