Combined profits of China's state-owned enterprises (SOEs) reached 1.54 trillion yuan (230.6 billion U.S. dollars) in the first eight months of this year, down1.3 percent from one year earlier, official data showed Friday.

The pace of decline decelerated from a 6.5-percent slump in the first seven months, according to the Ministry of Finance.

Meanwhile, SOE revenues hit 28.67 trillion yuan in the first eight months, up 0.2 percent, unchanged from the growth rate registered in the first seven months.