SOEs see modest growth during first seven months

China's State-owned enterprises (SOEs) posted modest profit growth in the first seven months, official data showed Tuesday, pointing to resilience in the world's second-largest economy.

In the January-July period, the country's SOEs raked in profits totaling 1.30 trillion yuan ($212 billion). a rise of 7.6 percent from a year earlier, the Ministry of Finance said in a statement posted on its website Tuesday.

In the first half, the country's SOEs saw their profits increase by 7 percent year-on-year.

Centrally administered SOEs were seen contributing to the upward trend by reporting 14.9 percent profit growth in the first seven months, ­although the reading moderated from 15.6 percent in the first half.

Local SOEs logged a decline in profits of 8.2 percent year-on-year during the same period, but the drop narrowed from 10.6 percent in the first half, according to the ministry's figures.

The electronics, electrical, petrochemical and property sectors were among the fields seeing conspicuous increases in profits during the period, while the nonferrous metals, chemical, coal and transportation industries were among those reporting substantial drops in profits, said the Tuesday statement.