THE assets of State-owned enterprises (SOEs) in Shenzhen exceeded 400 billion yuan (US$63.5 billion) last year, with total revenue reaching almost 85 billion yuan.

The total profits made by these enterprises increased by 3.6 percent over 2010, Shenzhen Economic Daily reported Thursday.

Thirteen of the 20 State-owned enterprises under the city's direct management achieved year-on-year profit growth. Six of them reported a profit of more than 10 billion yuan each.

The SOEs have also seen an improvement in their capacity of risk control and management, the paper said.

These enterprises fulfilled all their investment plans last year.

All the SOEs stepped up efforts to seek financing by innovating the financing channels.

Meanwhile, these enterprises paid taxes totalling more than 11.4 billion yuan last year, a 17.6 percent increase year on year.

Source:Shenzhen Daily