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BlackRock gets second RQFII licence
27 June 2014
Furthers commitment to growing business in China
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
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.