China's fixed asset investment rose 11.4 percent from a year earlier to 17.12 trillion yuan (2.8 trillion US dollars) in the first five months of the year, the National Bureau of Statistics (NBS) said on Thursday.

The increase slowed from the 12-percent level registered in the Jan.-April period this year.

The calculation does not include fixed-asset investment by farmers. It includes projects with investment of at least 5 million yuan, as well as all property development projects.

In the first five months, fixed-asset investment in primary industry grew the most rapidly, up 27.8 percent year on year to 421.3 billion yuan. This growth is 1.4 percentage points higher than that recorded in the Jan.-April period.

Fixed-asset investment in secondary industry saw year-on-year growth of 9.6 percent to 7.08 trillion yuan. The growth dropped 0.2 percentage points from the first four months.

Fixed-asset investment in tertiary industry grew 12.1 percent year on year to 9.62 trillion yuan. The growth was 1.1 percentage points lower than the Jan.-April level.