SOE profits show renewed growth

China's State-owned enterprises (SOEs) are expected to have generated 750 billion yuan ($110.29 billion) in profits and achieved a sales revenue of 12 trillion yuan in 2009, despite the global economic recession, according to figures released by the State assets watchdog.

In the first 11 months of 2009, the 131 SOEs under the direct supervision of the State Assets Supervision and Administration Commission (SASAC) posted a 3.4 percent year-on-year growth in profits to 710.9 billion yuan. This was based on overall operational revenues of 11.1 trillion yuan.

Taxes generated from these enterprises increased by seven percent year-on-year and amounted to 996.3 billion yuan.