OREANDA-NEWS.  Provincial level state-owned enterprises (SOEs) in Anhui province posted a 46.3 percent rise in profit during the first ten months, official statistics showed.

Between January and October, the provincial SOEs earned business revenue of 516.04 billion yuan (USD 84.6 billion), representing a year-on-year increase of 9.4 percent, according to the local State-Owned Assets Supervision and Administration Commission.

Meanwhile, they brought down costs by a combined 6 billion yuan through tightening internal control and reducing expenditure on non-production areas.

As of October, the SOEs'assets totaled 1032.8 billion yuan, up 13.6 percent from a year earlier. Out of them, 17 companies reported their assets exceeded 10 billion yuan.

In October alone, the provincial level SOEs' revenue and profit reached a record high of 5.7 billion and 2.7 billion yuan, up 8.1 percent and 6.1 percent month-on-month, respectively.

The province was ranked eighth in the country in terms of provincial level SOEs' total assets in the Jan-Sep period. It came seventh and sixth by their revenue and profit, respectively.