In this March 26, 2020 photo, workers observe the progress at a construction site of a project undertaken by the China Construction Third Engineering Bureau Co, Ltd in Wuhan, central China's Hubei province. (CHENG MIN / XINHUA)

BEIJING – The combined profits of China's state-owned enterprise surged 30.1 percent year-on-year to nearly 4.52 trillion yuan ($715 billion) in 2021, official data showed Wednesday.

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The SOEs raked in 75.55 trillion yuan in their operating revenue last year, up 18.5 percent year-on-year, according to data from the Ministry of Finance.