Chinese SOEs report revenue increase in first 10 months

BEIJING -- China's state-owned enterprises (SOEs) maintained steady operations in the first 10 months of the year, with increased total revenue, according to data released by the Ministry of Finance on Tuesday.

The data shows that during the period, SOEs generated more than 67.66 trillion yuan (about $9.41 trillion) in operating revenue, up 0.9 percent from a year earlier.

The combined profits of SOEs decreased 1.1 percent year-on-year to about 3.54 trillion yuan.

SOEs saw their debt-to-asset ratio reach 64.9 percent at the end of October.

These statistics, which exclude financial firms, were collected from SOEs in provincial-level regions and those administered by the central government.