Profits and revenues of China's state-owned enterprises (SOEs) continued to post year-on-year growth in October, data showed on Thursday.
SOEs saw their aggregate net profits after taxes rise by 62.7 percent year on year last month, while operating revenues climbed 7 percent, according to data from the Ministry of Finance.
In the first 10 months, SOEs raked in 49.68 trillion yuan (about 7.55 trillion U.S. dollars) in revenues, reversing a 0.7 percent contraction in the first nine months to expand 0.2 percent over the same period last year.
Their net profits after taxes totaled 1.93 trillion yuan, down 11.4 percent year on year and narrowing from an 18.5 percent decline in the first nine months, the ministry said. Enditem