Profits at China's SOEs rise 10.1 pct

Profits of China's state-owned enterprises (SOEs) surged 10.1 percent in the first 10 months of the year from the same period in 2012.

Profits stood at 1.97 trillion yuan (321.50 billion U.S. dollars) in the January-October period, said the Ministry of Finance on Wednesday.

Total business revenue at SOEs grew 11 percent to 37.70 trillion yuan in the 10-month period.