China SOE profits rise 2.8% in Jan-Nov

BEIJING - Profits of China's State-owned enterprises (SOEs) rose 2.8 percent in the first 11 months of the year compared with a growth of 0.4 percent in the first 10 months, official data showed Wednesday.

The SOEs made a combined profit of 2.11 trillion yuan ($305.8 billion) for January-November, the Ministry of Finance said.

Profits of SOEs under central government control fell 2.8 percent while those for locally-administered SOEs climbed 16.9 percent year-on-year in the same period, both better than the performances in the first 10 months.