China's industrial output, an important economic indicator, expanded 5 percent year-on-year in May, down from the 5.4 percent in April, official data released on Friday showed.

Retail sales increased 8.6 percent in May, up from April's 7.2 percent according to the National Bureau of Statistics.

Fixed-asset investment expanded 5.6 percent in the first five months, down 0.5 percentage points compared with the January-April period.

The urban employment situation remained stable in May, with the surveyed jobless rate in urban areas standing at 5 percent, unchanged from the previous month.

The Chinese economy continued to be stable and perform within reasonable range with improved momentum in May, the NBS said. However, the foundation for sustainable and healthy economic development needs to be consolidated, given rising external uncertainties and unbalanced development at home, the bureau added.