China's listed state-owned enterprises (SOEs) saw a surge in profits in the first half of this year amid reforms that aim to increase their efficiency.
Listed SOEs on the Shenzhen Stock Exchange reported combined profits of 147.8 billion yuan (21.7 billion U.S. dollars), up 32 percent year on year, data from the exchange showed.
Combined revenue of these firms totaled 1.94 trillion yuan, up 17.53 percent.
Those SOEs listed on the Shanghai Stock Exchange saw combined earnings surge 13 percent to 1.4 trillion yuan in H1.
China has been injecting new vitality into thousands of SOEs through a series of reforms, moving toward mixed ownership and market-oriented management.