Larry Fink says BlackRock is “very engaged” with Chinese regulators as the world’s largest asset manager attempts to take control of a local investment group.
The BlackRock chief executive said in his annual letter to shareholders that his ambitions in China — forecast to be the world’s second largest investment market behind the US in less than two years — had not been dented by the US-China trade war.
“If anything the Chinese are looking for greater participation of global firms in their asset management space because they also have a growing retirement crisis,” he said. “We hope to have a majority-controlled asset management [business] in China and we are very engaged with the Chinese regulators.”
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