politics

Profits of China’s SOEs continue to rise

Aerial photo shows technicians of State Grid Zhejiang Electric Power Company checking power transmission lines on a giant power supply pylon to make sure the stable operation of local power supply in Zhoushan, east China's Zhejiang Province, Oct. 24, 2020. (Xinhua/Xu Yu)

  Aerial photo shows technicians of State Grid Zhejiang Electric Power Company checking power transmission lines on a giant power supply pylon to make sure the stable operation of local power supply in Zhoushan, east China's Zhejiang Province, Oct. 24, 2020. (Xinhua/Xu Yu)

BEIJING, Nov. 26 (Xinhua) — Profits and revenues of China’s state-owned enterprises (SOEs) continued to post year-on-year growth in October, data showed Thursday.

The SOEs saw their aggregate net profit after taxes go up by 62.7 percent year on year last month, while the operating revenue climbed 7 percent, according to data from the Ministry of Finance.

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