Profits of Chinese SOEs surge 40.2% in Jan-Nov

BEIJING - The combined profits of China's State-owned enterprises (SOEs) surged 40.2 percent year-on-year to over 4.14 trillion yuan ($650.5 billion) in the first 11 months of the year, official data showed on Friday.

The SOEs saw their operating revenue rise 21.4 percent from a year earlier to 67.34 trillion yuan during the period, according to the Ministry of Finance.