China’s centrally-administered state firms posted a blistering performance in June, pushing first half revenue and profit growth to best ever levels.

Cost-control and technology driven growth — that’s behind the record first half performance for China’s central SOEs. Total revenues hit $2 trillion, up 10.1 percent year-on-year. Combined profit rose 23 percent to $132.1 billion.

Both numbers were up markedly from first quarter levels.