BEIJING-China's industrial profit slid in April as the country grappled with Covid-19 lockdowns in Shanghai and other cities, which wreaked economic havoc.
Profits at China's industrial firms dropped 8.5% in April, reversing from 10.6% growth in March, the National Bureau of Statistics said Friday. Industrial profit increased 3.5% in the first four months of the year, slowing from 8.5% growth in the first quarter, the bureau said.
Digital Dollar Could Coexist With Stablecoins, Fed Vice Chairwoman Says
WASHINGTON-A U.S. central bank digital currency could one day provide consumers with a level of safety amid a proliferation of privately-issued digital assets such as stablecoins, Federal Reserve Vice Chairwoman Lael Brainard told House lawmakers Thursday.
Ms. Brainard told the House Financial Services Committee that in the future a central bank digital currency could coexist with and be complementary to stablecoins by providing a widely available, government-backed means of payment.
Write to firstname.lastname@example.org
Write to us at email@example.com
We offer an enhanced version of this briefing that is optimized for viewing on mobile devices and sent directly to your email inbox. If you would like to sign up, please go to https://newsplus.wsj.com/subscriptions.
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires