(Yicai Global) Sept. 23 -- China's state-owned enterprises and state-holding enterprises, in which the government holds the majority of shares, continued to put the negative impact of the Covid-19 pandemic behind them, registering the third straight month of profit and revenue growth in August, according to data released by the Ministry of Finance today.

Last month, net profit at SOEs and SHEs increased by 25.8 percent from the same period last year, the highest growth rate in three months. Revenue was up 6 percent.

Net profit for the first eight months of the year, though, was down 27.3 percent year on year to CNY1.3 trillion (USD191 billion). Revenue for January through August fell 2.1 percent to CNY38.26 trillion, a narrowing of 1.4 percentage points from the decline in the first seven months.

Editor: Kim Taylor