Profits and revenues of China's state-owned enterprises (SOEs) and state-controlled firms continued to rise in August amid rapid recovery of business activities, registering the third straight month of growth, data from the Ministry of Finance showed Wednesday.

Revenues of SOEs rose six percent year on year in August, compared with a 2.7-percent increase in July. Total profits climbed 23.2 percent last month from the same period last year, while after-tax net profits rose 25.8 percent year on year.

Revenues for the January-August period fell 2.1 percent to 38.25 trillion yuan (about 5.6 trillion U.S. dollars), narrowing 1.4 percentage points from the decline in the first seven months.

In addition, as of the end of August, the asset-liability ratio of SOEs registered at 64.6 percent, an increase of 0.4 percent over the same period last year. 

(Cover via CFP)