China's first-quarter tax revenues grew at the slowest pace in three years, as a result of the country's cooling economy.

Tax revenues totaled 2.59 trillion yuan ($410.4 billion) in the first quarter, up 10.3 percent year on year, or 22.1 percentage points from the same period last year, said the Ministry of Finance.

The eased pace came as China's industrial value-added output and profits, key measures of industrial performances, both saw slower growth in the first two months.

China's GDP expanded 8.1 percent year on year in the first quarter, marking the fifth consecutive quarter of slowing growth, according to the National Bureau of Statistics.

Meanwhile, property-related tax income retreated significantly in the first quarter, which is largely the outcome of sagging sales due to the government's persistent control efforts.

The ministry also attributed the slower growth to the country's easing inflation and tax-reduction policies.