China's central SOEs report solid revenue, profit growth in Jan-Oct

BEIJING -- China's centrally administered State-owned enterprises (SOEs) saw steady growth in revenue and profit in the first ten months of this year despite downward pressure, according to the country's top State-owned assets regulator.

The central SOEs raked in 32.3 trillion yuan (about $4.54 trillion) in combined revenue in the Jan.-Oct. period, up 9.9 percent from the same period last year, said the State-owned Assets Supervision and Administration Commission of the State Council.

The net profits of central SOEs reached 1.7 trillion yuan during the period, up 3.9 percent year on year.