BlackRock fund approves local Chinese investors
BlackRock Fund has obtained eligibility as a qualified domestic institutional investor in China, becoming the first new foreign asset management firm to receive this qualification in the country. This eligibility allows local investors to invest in overseas markets and reflects BlackRock's expansion in asset management and investment services in China. This move comes after firms like J.P. Morgan and Morgan Stanley previously obtained such eligibility, although they later transitioned into wholly foreign-owned companies. In contrast, BlackRock is now a fully foreign-owned finance company, strengthening its presence in China's international investment market. The company plans to develop products and services to help Chinese investors participate more broadly in global markets.
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