Profits of Chinese state-owned enterprises (SOEs) grew steadily in the first ten months of 2019, official data showed.
The combined profits of China's SOEs rose 5.4% year on year to 2.94 trillion yuan (about $418 billion) for the January-October period, the Ministry of Finance said on its website.
The pace edged down from the 6.6%-increase in the first nine months.
The centrally-administered SOEs generated a combined profit of 1.94 trillion yuan, up 7.5% year on year.
Total revenues of the SOEs reached 50.13 trillion yuan during the period, up 6.5% from a year earlier.
The debt-to-asset ratio of the SOEs stood at 64.3% by the end of October, unchanged from the same period last year, according to the ministry.
(Writing by Tian Zhang Editing by Tammy Yang)
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