BlackRock (BLK) has successfully bagged the China Securities Regulatory Commission’s (CSRC) nod to start a wholly owned onshore mutual fund business in China, according to a Reuters report. The American multinational investment management corporation, BlackRock, has now become the first global asset manager to operate as a fund management company in China. Chairman and CEO of BlackRock Larry Fink said, “We look forward to sharing our global investment expertise and offering more differentiated investment solutions to Chinese investors.” (See BlackRock stock analysis on TipRanks) The approval is likely to initiate a race among BlackRock’s peers to get a similar nod from the CSRC and grab a decent share of the country's $3.
https://www.tipranks.com/news/blackrock-approved-to-start-first-wholly-owned-mutual-fund-business-in-china-report
BlackRock (NYSE:BLK)
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