Profits of Chinese SOEs surge 75 pct in Jan - Aug

BEIJING -- The combined profits of China's state-owned enterprises (SOEs) surged 75 percent year on year to over 3.12 trillion yuan (about $483 billion) in the first eight months of this year, official data showed Friday.

During the period, the SOEs saw their operating revenue up 24.9 percent year on year to more than 47.4 trillion yuan, according to the Ministry of Finance.

The centrally-administered SOEs saw their profits increase 72.9 percent year on year to 2.08 trillion yuan in the first eight months.

The revenue of centrally-administered SOEs rose 23.3 percent year on year to 26.62 trillion yuan.

At the end of August, the debt-to-asset ratio of the country's SOEs came in at 64.3 percent, down 0.2 percentage points from the level seen in the same period last year, data showed.