BEIJING - China's State-owned enterprises saw their combined profits expand 9.7 percent year-on-year to 306.01 billion yuan ($48.8 billion) in the first two months of the year, the Ministry of Finance announced Friday.

Stricter controls likely on SOE investments

More SOE profits will go to social security fund

Budget plans for SOEs show pessimism

2012 profits slow at China's central SOEs

SOEs cut annual parties under frugality call

Chinese SOEs' profits drop 5.8% in 2012