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#China#'s value-added industrial output increased by 5.6 percent year on year in the first four months of 2026, official data showed on Monday. In April alone, industrial output grew 4.1 percent year on year, and rose 0.05 percent compared to the previous month, according to data released by the National Bureau of Statistics. The industrial output is used to measure the activity of large enterprises each with an annual main business turnover of at least 20 million yuan (about 2.92 million U.S. dollars). In terms of sectors, the value added output of the mining sector increased by 5.5 percent year on year in the first four months of the year, while that of the manufacturing sector grew by 5.8 percent. The value-added output of the electricity, heat, gas and water production and supply sectors went up by 4.5 percent, the data showed.

The Mean Value Theorem If 𝑓 is continuous on [𝑎, 𝑏] and differentiable on (𝑎, 𝑏), then there exists some 𝑐 with 𝑎 < 𝑐 < 𝑏 such that 𝑓′(𝑐) = [𝑓(𝑏) − 𝑓(𝑎)] / (𝑏 − 𝑎) This means the instantaneous rate of change at 𝑐 equals the average rate of change of 𝑓 over [𝑎, 𝑏].

BLACKROCK PRIVATE CREDIT FUND VALUATIONS PROBED BY DOJ Bloomberg reports federal prosecutors are scrutinizing valuation practices at BlackRock $BLK TCP Capital. TCPC is a publicly traded business development company tied to BlackRock’s private credit platform. The fund made a rare off-cycle disclosure in January saying it expected to cut asset values by 19%. NAV fell from $8.71 per share at the end of Q3 to $7.07 at the end of Q4. Shares dropped 13% on January 26, the worst day since March 2020. Investors later filed class-action lawsuits alleging the fund made false statements and failed to properly value loans. BlackRock declined to comment. Probes can end without charges.