China's SOEs see solid profit growth in first seven months

Profits of Chinese state-owned enterprises (SOEs) grew steadily in the first seven months of 2019, official data showed Monday.

Aerial view of the building complex of Henan Art Center in Zhengzhou city, central China's Henan province, May 7, 2019. [Photo: IC]

The combined profits of China's SOEs rose 7.3 percent year on year to 2.14 trillion yuan (302.63 billion U.S. dollars) for the Jan.-July period, the Ministry of Finance said on its website.

Total revenues of the SOEs reached 34.47 trillion yuan during the period, up 7.7 percent from a year earlier.