Profits, revenues of Chinese SOEs continue to rise in August

BEIJING - Profits and revenues of China's State-owned enterprises (SOEs) and State-controlled firms continued to post year-on-year growth in August, the Ministry of Finance said Wednesday.

Total profits rose by 23.2 percent last month from the same period last year, while after-tax net profits jumped 25.8 percent year-on-year, according to a statement posted on the ministry's website.

Revenues increased by 6 percent year-on-year, compared with a 2.7 percent increase registered in July.