BEIJING — The combined profits of China's State-owned enterprises (SOEs) surged 40.2 percent year-on-year to over 4.14 trillion yuan (about $650.5 billion) in the first 11 months of the year, official data showed on Dec 24.

The SOEs saw their operating revenue rise 21.4 percent from a year earlier to 67.34 trillion yuan during the period, according to the Ministry of Finance.

The operating revenue of China's centrally-administrated SOEs amounted to over 37.45 trillion yuan in the January-November period, an increase of 20.3 percent, while their profits totaled 2.7 trillion yuan during the period, rising 36.4 percent year-on-year.

By the end of November, the debt-to-asset ratio of the country's SOEs came in at 64.3 percent, remaining unchanged from that registered a year ago, the data showed.