BEIJING — China's fixed-asset investment (FAI) grew steadily in the first 10 months of 2020 amid the country's stable economic recovery from the COVID-19 epidemic.

The FAI went up 1.8 percent year-on-year in the Jan-Oct period, 1 percentage point higher than the rise in the first nine months, data from the National Bureau of Statistics (NBS) showed on Nov 16.

In the first 10 months, the FAI amounted to 48.33 trillion yuan (about $7.32 trillion), according to the NBS.

Investment by the private sector fell 0.7 percent year-on-year in the first 10 months, with the drop narrowing 0.8 percentage points from that in the first nine months.

Investment in the primary industry went up 17.3 percent year-on-year, while that in the secondary industry fell 2.1 percent. Investment in the tertiary industry edged up 3 percent.

Meanwhile, investment in high-tech manufacturing and services surged 10 percent and 9.4 percent year-on-year, respectively.

On a month-on-month basis, FAI rose 3.22 percent in October.

The FAI includes capital spent on infrastructure, property, machinery and other physical assets.