BlackRock has received approval to begin operating a wealth management business in mainland China, as the world’s biggest international investors push to access the country’s vast pool of savers.
The joint venture, which is 50.1 per cent owned by BlackRock and includes China Construction Bank and Singapore’s state fund Temasek, gained approval from the China Banking and Insurance Regulatory Commission according to an announcement on Wednesday.
BlackRock, the world’s biggest asset manager, is one of several large international investment groups seeking to expand in China and capitalise on growing savings and maturing markets as the country liberalises its financial system.
您已阅读21%（678字），剩余79%（2503字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。