Profits of Chinese SOEs drop in Jan-April

BEIJING -- The combined profits of China's state-owned enterprises (SOEs) declined 3.6 percent year-on-year to 1.28 trillion yuan ($190 billion) in the first four months of the year, official data showed on Friday.

The SOEs raked in 24.57 trillion yuan in operating revenue in the January-April period, 9.8 percent higher than in the same period last year, according to data from the Ministry of Finance.