Thirty-two major state-owned enterprises (SOEs) in China's coal industry witnessed the rocketing of their profits by 120 percent year on year in the first quarter, according to figures from the State-owned Assets Supervision and Administration Commission (SASAC).

These coal SOEs' income for their staple services reached 44.55billion yuan (5.37 billion US dollars) in the first quarter, up 50.1 percent year on year, with a profit of 3.47 billion yuan, increasing 1.86 billion yuan from the same period last year, SASAC figures showed.

China's rapid economic growth has led to huge demand for energy yand raw materials while the coal price has been rising also remarkably in China since last year.

Source: Xinhua