BlackRock gets second RQFII licence

BlackRock gets second RQFII licence

The China Securities Regulatory Commission (CSRC) has awarded BlackRock its second renminbi qualified foreign institutional investor (RQFII) licence.

The licence will enable UK-based BlackRock Advisors to invest in domestic capital markets in China including its A-Share equity and onshore bond markets. BlackRock said it will now apply for investment quotas under the licence from the State Administration of Foreign Exchange.

“China is an important investment destination for our clients globally and we are proud to be among the first asset managers in London to be able to offer direct access to Chinese investments,” said Thomas Fekete, head of the iShares product team Emea at BlackRock.

“The award of our second RQFII licence complements our existing China access licences and is recognition by the CSRC of our commitment to growing the BlackRock China business. It means we will be able to add to the investment solutions we offer to our clients.”

BlackRock Asset Management North Asia Limited was granted the firm’s first RQFII licence in March 2014, which received a $320m investment quota in June this year.

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