China’s fixed-asset investment rose by 1.7% year-on-year in the first quarter of 2026, falling short of market expectations for a 1.9% increase. The latest reading was slightly weaker than the 1.8% rise in the first two months. Property investment declined further, falling by 11.2% (compared with an 11.1% drop in January–February), partly offsetting gains in infrastructure (8.9%) and manufacturing (4.1%) investment. Among industries, investment in the primary sector climbed by 15.9% and the secondary sector grew by 5.8%, while investment in the tertiary sector dropped by 1.0%. Excluding the property sector, fixed-asset investment went up by 4.8% in the January–March period. On a monthly basis, fixed-asset investment increased by 0.52% in March, slowing from a 0.99% rise in February.