BlackRock debuts U.S. ETF for China-listed stock after MSCI snub

[June 15, 2016]  (Reuters) - BlackRock Inc is introducing its first U.S.-listed exchange-traded fund providing access to mainland Chinese markets, the world's largest asset manager said on Wednesday.

The debut of the New York-based company's iShares MSCI China A ETF comes the day after index provider MSCI Inc said it would not add some Chinese-listed stocks, known as "A shares," to its key emerging market index on concerns about foreigners' ability to invest in China and withdraw money when the market is stressed.

Martin Small, who leads the BlackRock ETF franchise iShares' U.S. unit, told Reuters that he was confident the fund could function in China's current markets. BlackRock decided to offer the product independently of MSCI's process for considering A shares, he added.

(Reporting by Trevor Hunnicutt; Editing by Lisa Von Ahn)

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