China's central SOEs profit up 91% in Jan-Aug

BEIJING - China's centrally administered State-owned enterprises saw their profit surge in the first eight months of this year, official data showed Friday.

The central SOEs saw combined business revenue totaling 23 trillion yuan ($3.56 trillion) during the January-August period, up 25.6 percent year-on-year, said Tan Zuojun, deputy head of the State-owned Assets Supervision and Administration Commission of the State Council.

Net profits of these firms totaled 1.35 trillion yuan, jumping 91 percent from a year ago, or 43.6 percent higher than the 2019 level, Tan said.