Chinese SOEs report revenue increase in first eight months

BEIJING, Oct. 3 (Xinhua) — China’s state-owned enterprises (SOEs) reported a 1.4 percent year-on-year increase in revenues from January to August this year, according to the Ministry of Finance.
Their combined revenues totaled around 53.81 trillion yuan (about 7.56 trillion U.S. dollars) during this period.
Combined profits dropped 2.1 percent to about 2.88 trillion yuan from the same period a year ago, the data showed.
SOEs saw their debt-to-asset ratio stand at 64.9 percent at the end of August, according to the finance ministry. ■