Black Rock In China. BlackRock Inc has received a licence in China for a majority-owned wealth management venture expanding its footprint in the countrys fast-growing asset management market. Know about this growing economy with BlackRock.
BlackRock Financial Management Inc. Received approval from the China Securities Regulatory Commission to set up a wholly-owned mutual fund management company in the country. And Nomura Holdings Inc.
The issue is a decision by BlackRock CEO Larry Fink to open the first foreign-owned mutual fund in China presumably to attract the savings of Chinas new and fast disappearing middle income population.
SHANGHAI Reuters -BlackRock Inc has become the first global asset manager licensed to start a wholly owned onshore mutual fund business in China as. 30 it launched a set of mutual funds and other investment products for Chinese consumers. For starters BlackRock was the first large American investment bank to be granted a license to serve local clients without a partner. Has upgraded Chinese stocks as policy hurdles ease saying the time to position in China is now while trimming its exposure to Indian equities.