SOEs' profits hit 250b yuan in Jan-Feb

China's State-owned enterprises (SOEs) gained 250.32 billion yuan in profits in the first two months this year, up 88.9 percent year-on-year, the Ministry of Finance said Thursday.

Centrally-administered SOEs and their subordinate enterprises' profits totaled 187 billion yuan in January and February, up 60.1 percent year-on-year. Local-government-controlled SOEs' profits were 63.27 billion yuan, three times of that in the same period last year.

The SOEs' revenue in the first two months totaled 4.06 trillion yuan, up 42.4 percent year-on-year. The taxes imposed on these enterprises increased 36.2 percent year-on-year to 411.56 billion yuan.

Costs of the SOEs totaled 3.78 trillion yuan, up 39.9 percent year-on-year.

Automobiles, real estate, oil and petrochemicals sectors saw soaring profits, while power generators posted losses in the January-February period.

The SOEs covered by the ministry statistics included 129 enterprises directly supervised by the State-owned Assets Supervision and Administration Commission on behalf of the central government, enterprises affiliated to 82 central departments, and those administered by provincial, regional and municipal governments.