BEIJING, Nov. 28 (Xinhua) -- The following are the highlights of China's business news from the past week:
INDUSTRIAL PROFITS
-- Profits of China's major industrial firms totaled 642.91 billion yuan (about 97.77 billion U.S. dollars) in October, increasing by 28.2 percent year on year, data from the National Bureau of Statistics showed Friday.
The pace of growth quickened 18.1 percentage points from September.
In the first 10 months of the year, the profits of major industrial firms expanded 0.7 percent year on year to 5.01 trillion yuan, reversing the 2.4-percent decline in the January-September period.
PENSION FUND RETURN
-- China's basic pension fund saw a return on investments of 9.03 percent last year, the Ministry of Human Resources and Social Security said Tuesday.
The fund, run by the National Council for Social Security Fund, earned investment income totaling 66.39 billion yuan last year, data from the ministry shows.
The total assets of the fund had reached over 1 trillion yuan by the end of last year.
YUAN BONDS
-- China's Ministry of Finance issued yuan-denominated treasury bonds worth 5 billion yuan in the Hong Kong Special Administrative Region on Wednesday.
The bonds included 3.5 billion yuan of two-year treasury bonds and 1.5 billion yuan of five-year treasury bonds, the MOF said in an online statement.
The issuance is an additional offering to the previous 5 billion yuan in treasury bonds issued in Hong Kong in July of this year, according to the ministry.
CBS
-- The People's Bank of China, the central bank, conducted this year's 11th central bank bills swap (CBS) operation on Friday to improve the liquidity of perpetual bonds issued by commercial banks.
The CBS, valued at 5 billion yuan, is open to primary dealers for bidding at a fixed rate of 0.1 percent, the central bank said in a statement.
The swap will be due on Feb. 27, 2021, said the statement.
SOE PROFITS
-- Profits and revenues of China's state-owned enterprises (SOEs) continued to post year-on-year growth in October, according to Thursday data from the Ministry of Finance.
SOEs saw their aggregate net profits after taxes rise by 62.7 percent year on year last month, while operating revenues climbed 7 percent,
In the first 10 months, SOEs raked in 49.68 trillion yuan in revenues, reversing a 0.7 percent contraction in the first nine months to expand 0.2 percent over the same period last year. Enditem
