Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

BlackRock awarded second license for access to China markets

Send a link to a friend  Share

[June 27, 2014]  LONDON (Reuters) - BlackRock, the world's biggest asset manager, said its UK arm had been awarded a license to invest directly in China's mainland capital markets, giving investors access to its stock and bond markets.

In a statement on Friday, the company said the China Securities Regulatory Commission (CSRC) had granted a Renminbi Qualified Foreign Institutional Investor (RQFII) license to BlackRock Advisers UK.

The RQFII program is part of China's move to liberalize its capital markets, improving two-way movement of investment money and allowing the Chinese currency to trade more freely against other currencies.

The RQFII scheme was launched in 2011 in Hong Kong and later expanded to Taiwan, Singapore and London.

BlackRock in April announced its first RQFII license, granted to its North Asian business.

(Reporting by Chris Vellacott. Editing by Steve Slater)

[ 2014 Thomson Reuters. All rights reserved.]

Copyright 2014 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

< Top Stories index

Back to top