China's factory output and retail sales grew at a steady pace in May but investment slowed, reinforcing views that the world's second-largest economy will soon start to lose some momentum as lending costs rise and the property market cools.
Global concerns about China have resurfaced since Moody's Investors Service downgraded its credit ratings last month, saying it expects the country's financial strength will erode in coming years as growth slows and debt continues to rise.
But most analysts predict only a gradual loss of momentum in coming months, especially as the government is keen to maintain economic and financial market stability ahead of a major political leadership reshuffle in autumn.
