Data from the Ministry of Finance showed that the combined profits of China’s state-owned enterprises rose 75% year on year to 3.12 trillion yuan (about 483 billion dollars) during the first eight months of this year.
During the period, the state-owned enterprises recorded an increase in their operating income of 24.9 percent year on year, to more than 47.4 trillion yuan.
Profits of centrally managed state-owned enterprises rose 72.9% year on year to 2.08 trillion yuan in the first eight months.
Revenues of centrally managed state-owned enterprises rose 23.3 percent year on year to 26.62 trillion yuan.
The data showed that at the end of August, the debt-to-asset ratio of the country’s state-owned enterprises was 64.3 percent, down 0.2 percentage points from the level recorded in the same period last year.