(Yicai Global) Jan. 23 -- China's state-owned and state-backed enterprises have substantially increased their profits throughout last year, going far beyond the level of the previous 11 months, show data China's Ministry of Finance issued today.

China's SOEs registered total profit of CNY3 trillion (USD455 billion) from January to December, up 24 percent per year. They recorded annual growth of 3 percent in the previous 11 months. Accounting for such a sharp difference, the Chinese economy has developed in good shape with steady progress, the Ministry of Finance said, but without citing specific factors.

Central enterprises posted profits of CNY1.8 trillion, up 16 annual percentage points, while local SOEs realized profits of CNY1.1 trillion, up 38 percent annually.

The gross revenue figure for state-owned enterprises stood at CNY52 trillion over the course of the year with an annualized rise of 14 percent, much higher than the rise of 1.5 percent in the previous 11 months, said MOF.

Non-ferrous metals and other industries which had suffered losses in the same period the year before maintain their profitability, while coal, transport, petroleum and petrochemical industries enjoyed a large yearly increase in profits, even as the power sector fell victim to a significant annual decrease, MOF added.