China's fixed-asset investment grew 10.7 percent year on year to about 8.6 trillion yuan (1.32 trillion U.S. dollars) in the first quarter of 2016, official data showed on Friday.

Growth picked up slightly from the 10-percent increase recorded in 2015 and the first two months of this year, according to the National Bureau of Statistics.

It marked steady and moderate growth in China's fixed-asset investment, money used to purchase and build factories, machines, property and other fixed facilities.

In breakdown, fixed-asset investment in agriculture was up 25.5 percent in Q1, followed by 12.6 percent for the service sector and 7.3 percent for industry.

State-owned enterprises' investment surged 23.3 percent year on year while investment from the private sector accounted for a whopping 62 percent of the total.

The amount of capital in place for investment increased 6.4 percent in Q1, with the government budget for fixed-asset investment rising 16.9 percent and foreign investment dropping 25.6 percent year on year.

The total planned investment in newly-started projects stood at 8.1 trillion yuan, up 39.5 percent year on year.

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