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.

Employees of State-owned Beijing Urban Construction Group work on the construction site of a sports facility in Beijing. [Photo/China Daily]

The combined profits of China's SOEs rose 7.3% year on year to 2.14 trillion yuan (US$302.63 billion) 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% from a year earlier.