China’s centrally-administered state-owned enterprises generated a total profit of US$47.7 billion in the first four months of 2010, an 81.7% year-on-year growth, reported state media. The combined operating revenue grew 50.4% year-on-year to US$716 billion. Although no specific details of the factors behind revenue or profit growth were provided, the low figures in 2009 generated during the midst of the global economic recession were considered a factor; the increase in global demand for low-cost Chinese goods, especially in the environment of a competitively valued renminbi, also contributed to year-on-year revenue growth. There are currently 126 centrally-administered SOEs in China.