Profits of Chinese SOEs up 7 pct in January-November

BEIJING, Dec. 28 (Xinhua) -- China's state-owned enterprises (SOEs) and state-holding enterprises saw their profits increase steadily in the first 11 months of this year, official data showed on Thursday.

The companies raked in 4.12 trillion yuan (about 580.5 billion U.S. dollars) in profits in the January-November period, up 7 percent year on year, according to data from the Ministry of Finance.

From January to November, the combined operating revenues of these firms grew 3.9 percent from the same period a year earlier to near 76.23 trillion yuan, the data revealed.

By the end of November, their asset-liability ratio stood at 64.9 percent, according to the ministry.