BEIJING - The net profit of China's centrally-administrated State-owned enterprises (SOEs) rose 40.2 percent year on year to 848.98 billion yuan ($128.95 billion) in 2010, China's State-owned enterprises watchdog said Friday.

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Revenue at the companies increased 32.1 percent year on year to 16.7 trillion yuan, the State-owned Assets Supervision and Administration Commission (SASAC) said in a statement.

China's 122 centrally-administrated SOEs paid taxes of 1.41 trillion yuan in 2010, a 27.7-percent year-on-year increase.