BlackRock sees joint venture as conducive to China wealth management success
BlackRock sees joint venture as conducive to China wealth management success
Bloomberg
BlackRock Inc. over the past month has secured the licenses it needs to provide comprehensive service to domestic investors in China, said Susan Chan, the firm s Hong Kong-based head of Asia.
Covering the entire spectrum of clients in China requires two licenses, Ms. Chan explained in a recent interview.
The first is a fund management company license for business along the lines of your traditional asset manager, which BlackRock secured on June 11, she said. The second is a wealth management company license providing access to China s $4 trillion bank retail client channel, which the company and two joint venture partners garnered a month ago.
(Bloomberg) BlackRock Inc. received approval to start a wholly owned mutual fund business in China, a step toward winning a slice of one of the fastest-growing wealth markets.The world’s largest asset manager was granted a license from the China Securities Regulatory Commission to start selling onshore investment products and solutions to Chinese investors, the company said in a statement on Friday.The approval comes a month after BlackRock was given the nod to pursue a joint venture asset ma
BlackRock has become the first global asset manager to receive approval from the China Securities Regulatory Commission to start a wholly owned onshore mutual fund.
Recovery signs shift focus to challenges, opportunities By Cui Li | China Daily | Updated: 2021-06-07 09:05 Visitors try rowing machines in an exhibition hall of the first China International Consumer Products Expo in Haikou, capital of South China s Hainan province, May 7, 2021. [Photo/Xinhua]
First-quarter GDP data have shown China s economic recovery is continuing, as underpinned by steady policy support. At the same time, more precautionary policies can be expected to cope with potential economic changes.
The April economic data have shown that the economy is generally returning to normality. After a short-term shock last year, economic rebound this year can be fast and strong during the initial stage, yet the on-month recovery will gradually slow down, which will also be in line with our predictions. The April data show that recovery in industrial production and consumption is continuing, though consumption recovery is somehow falling beh
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