Combined profits of China's industrial enterprises of scale rose 28.2 percent year-on-year to 3.23 trillion yuan (about 504.4 billion U.S. dollars) in the first eight months, the National Bureau of Statistics (NBS) said Tuesday.

From January to August, the main business sales revenue of the industrial enterprises of scale -- referring to enterprises with annual sales revenue exceeding 5 million yuan each -- surged 29.9 percent from a year earlier to hit 53.17 trillion yuan, said the NBS.

Among them, profits of state-owned and state-controlled companies increased 20.6 percent year-on-year to 1.02 trillion yuan while those of collectively-owned companies jumped 31.8 percent to 51.9 billion yuan.

In the first eight months, profits of large scale foreign-funded enterprises and those funded by investors from Hong Kong, Macao and Taiwan registered a year-on-year increase of 14.4 percent, totaling 843.1 billion yuan, the NBS said.

Out of the 39 industries surveyed, 38 reported profit growth in the eight-month period, while the sector of oil refinery, coking and nuclear fuel processing reported a 85.3 percent loss in profits.

The ferrous metal mining industry reported a 54.5 year-on-year percent increase in profits while the petroleum and natural gas exploration industry's profits rose 36.3 percent.

Source:Xinhua