(Yicai Global) Nov. 21 -- China's state-owned enterprises reported total net income of CNY2.38 trillion (USD 358.3 billion) over the first ten months of the year, an annual increase of 24.6 percent, say data from the Ministry Finance.

Both income and profits have maintained robust growth, while profits were 9.2 percentage-points higher than income.

State enterprises gained gross revenues of CNY41.99 trillion in the first ten months, 15.4 percent higher than the previous year, at a total cost of CNY40.61 trillion, a 14.6 percent increase annually.

Industries including nonferrous metals, steel, coal and petroleum exhibited larger growth margins compared to the year-earlier period, while a major annual decline was seen in the electric power sector.

Assets held by state-owned enterprises reached CNY150.63 trillion, an annual increase of 10.8 percent as of the end of October, total liabilities were up 10.6 percent to CNY99.20 trillion, while owners' equity came to CNY51.42 trillion, up 11.1 percent.