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China Reforms Bring New Funds Advertisement BlackRock received the license in June 2021 as the first foreign financial institution to operate a wholly owned China subsidiary, BlackRock Fund Management.  July 25, 2021 Blackrock’s July 1 application with the China Securities Regulatory Commission (CSRC) to launch the BlackRock China New Horizon Mixed Securities Investment Fund, the first wholly foreign-owned mutual fund, marks a turning point in China’s financial market reform: Foreign financial institutions are no longer required to have a Chinese partner. BlackRock received the license in June 2021 as the first foreign financial institution to operate a wholly owned China subsidiary, BlackRock Fund Management. A booming Chinese mutual fund market will attract more foreign-owned mutual fund products, with two leading global institutions, JPMorgan Chase and Morgan Stanley both of which have joint ventures with long histories recently announced their plans to buy out their Chi

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