Profit growth in China industrial sector up on higher prices, sales

Beijing

PROFIT growth in China's industrial sector picked up in October, aided by stronger sales and higher prices, suggesting further strengthening of the world's second-largest economy. However, growth was skewed towards high-polluting heavy industry.

There has been widespread speculation in China's commodities futures market this year, with coal prices hitting new highs in recent weeks, and economists say growth driven by loose money policies won't last.

Indeed, a subdued property market is expected to dampen growth in the first two quarters next year, as policymakers introduce curbs to cool home prices, which could hit profits of co…