Ministry of Finance said, profits earned by China's state-owned firms in the first two months of the year rose 10% from the same period a year earlier.

Total profits stood at 452.05 billion yuan in the period, while revenue increased 6.3% to 8.71 trillion yuan.

State firms' liabilities increased 8.1% on an annual basis to 121.14 trillion yuan by end-February. Profits of state firms in oil and nonferrous metals sectors grew significantly in January-February.