Ownership reform helps to enhance SOE profits in H1

Profits of State-owned enterprises increased steadily in the first half of this year, with the electricity generation, real estate and building material sectors growing faster than the average, the Ministry of Finance said on Tuesday.

The combined profits of China's SOEs amounted to 1.82 trillion yuan ($264.5 billion) in the first six months, up 7.2 percent year-on-year, the ministry said in an online statement. The growth rate slowed from the 8.7-percent increase in the first five months, the official data showed.

Between January and June, SOEs reaped a total revenue of 29.5 trillion yuan, up 7.8 percent from the previous year, data from the ministry showed.