Chinese SOEs report revenue increase in first eight months

BEIJING -- China's state-owned enterprises (SOEs) reported a 1.4 percent year-on-year increase in revenues from January to August this year, according to the Ministry of Finance.

Their combined revenues totaled around 53.81 trillion yuan ($7.56 trillion) during this period.

Combined profits dropped 2.1 percent to about 2.88 trillion yuan from the same period a year ago, the data showed.

SOEs saw their debt-to-asset ratio stand at 64.9 percent at the end of August, according to the finance ministry.