China's industrial companies are expected to post a combined profit of more than 800 billion yuan this year, up about 240 billion yuan from last year, state media reported Monday, citing a government official.

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The country's industrial companies registered profit of 562.04 billion yuan for full-year 2002.

In the first 11 months of 2003, the country's industrial firms recorded a total profit of 725.2 billion yuan, up 44.6% on year.

Major state-owned enterprises are key to boosting the industrial sector's profit growth, said Zhu Hongren, an official at the National Development and Reform Commission.

Figures issued earlier by the National Bureau of Statistics show state-sector industrial firms' profits rose 49.7% on year from January to November to 347.4 billion yuan.

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