THE combined profits of China’s State-owned enterprises (SOEs) rose 47.6 percent year on year to over 3.8 trillion yuan (US$594 billion) in the first 10 months of this year, official data showed Thursday.

During the period, the SOEs saw their operating revenue up 22.1 percent year on year to around 60.4 trillion yuan, according to the Ministry of Finance.

The centrally-administered SOEs saw their profits increase 44 percent year on year to 2.53 trillion yuan in the first 10 months.

The revenue of centrally-administered SOEs rose 21.3 percent year on year to 33.85 trillion yuan.

At the end of October, the debt-to-asset ratio of the country’s SOEs came in at 64.3 percent, flat with the level seen in the same period last year.(Xinhua)