OREANDA-NEWS. April 08, 2014. China's State-Owned Enterprises (SOEs) saw their gross profit grow 2.8% year on year to RMB 326.54 billion in the first two months of this year, according to the latest statistics released by the Ministry of Finance.

Chinese SOEs administered by the central government realized a combined RMB 264.27 billion in gross profit in the first two months, 3.9% more than that in the same period of 2013, while local SOEs saw gross profit dropped 2% year on year to RMB 62.27 billion.

The combined operating revenue of the SOEs was RMB 6.98 trillion during the period from Jan to Feb, up 6.7% year on year. The operating revenue of the centrally controlled enterprises rose 5.8% year on year to RMB 4.39 trillion, while that of the locally administered SOEs rose 8.2% from a year earlier to RMB 2.59 trillion.

The SOEs' costs and expenditure increased 6.6% to RMB 6.71 trillion during the period.

The machinery, power, real estate, automobile and commerce industries saw sharp year on year increases in profit in the first two months. However, steel, non-ferrous and transportation industries suffered a net loss in the period.