BEIJING, March 29 (Xinhua) -- The combined profits of China's state-owned enterprises rose 150 percent year on year to 548.94 billion yuan (about 83.94 billion U.S. dollars) in the first two months, official data showed Monday.

An engineer assembles an axial-flow compressor at a workshop of the Shaanxi Blower (Group) Co., Ltd., a state-owned enterprise, in Xi'an, northwest China's Shaanxi Province, Nov. 18, 2020. (Photo: Xinhua)

The growth rate offsetting base effects came in at 10.2 percent during the January-February period, the Ministry of Finance said on its website.

This refers to the two-year average growth rate based on the figure from the same period in 2019, due to a low comparison base last year, the ministry noted.