BEIJING, Sept. 28 -- China's state-owned enterprises (SOEs) and state holding enterprises saw their revenues and profits grow in the first eight months of 2023, the Ministry of Finance said Thursday.

Revenues hit 54.39 trillion yuan (about 7.58 trillion U.S. dollars), up 4 percent year on year, while profits reached 3.09 trillion yuan, an increase of 4.3 percent from a year earlier.

Taxes and fees the companies should pay totalled 3.87 trillion yuan during the period, down 3.1 percent year on year.

The asset-liability ratio of the SOEs was 64.8 percent at the end of August, the ministry said.