(Yicai Global) April 16 -- Companies owned by China's central government earned a combined net profit of nearly CNY427 billion (USD63.5 billion) over the first quarter, up 13.1 percent on the year.

Companies in mining, defense, transport, petroleum, construction and machinery grew fastest, according to Peng Huagang, spokesman for the State-owned Assets Supervision and Administration Commission the agency under the nation's cabinet that runs the central-owned enterprises.

Editor: James Boynton