China’s industrial profit growth picks up amid two-speed economy

BEIJING, Oct 27 (Reuters) – China’s industrial profits grew at a faster pace in September, though a deepening divergence across the economy continued to weigh on business earnings. Profits at industrial firms rose 14.4% from a year earlier last month, quickening from a 4.2 increase in August, data from the National Bureau of Statistics showed on Tuesday. Profits were up 15.5% in the first nine months, compared with a 15.7% increase in the January-August period. While export-oriented firms brace for greater uncertainty as expanding trade surpluses heighten the risk of external pressures, firms tied to domestic demand continue to grapple…