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BlackRock CCB Wealth Management Gets Asset Management License

BlackRock CCB Wealth Management Gets Asset Management License Posted on 05/13/2021 BlackRock CCB Wealth Management Ltd. was awarded an asset management license from the China Banking and Insurance Regulatory Commission. BlackRock CCB Wealth Management is a joint venture owned by BlackRock Inc. at 50.1%, a subsidiary of China Construction Bank at 40%, and Temasek Holdings at 9.9%. “The Chinese market represents a significant opportunity to help meet the long-term goals of investors in China and internationally,” Laurence Fink, BlackRock’s chairman and CEO said in a statement. “We are committed to investing in China to offer domestic assets for domestic investors and look forward to creating a better financial future for more people.”

BlackRock expands China footprint with wealth management license

BlackRock expands China footprint with wealth management license Published 1 hour ago SHANGHAI (Reuters) -BlackRock Inc has received a licence in China for a majority-owned wealth management venture, expanding its footprint in the country s fast-growing asset management market. The U.S. fund giant said on Wednesday its wealth management venture with a unit of China Construction Bank Corp (CCB) and Singapore state investor Temasek Holdings (Pte) Ltd can now start business. The venture, 50.1% owned by BlackRock and 40% by CCB s wealth management unit, will draw on BlackRock s investment expertise and CCB s vast distribution network, the U.S. firm said in a statement.

BlackRock expands China footprint with wealth management licence

BlackRock expands China footprint with wealth management licence FILE PHOTO: A sign for BlackRock Inc hangs above their building in New York U.S., July 16, 2018. REUTERS/Lucas Jackson May 12, 2021 BlackRock Inc has received a licence in China for a majority-owned wealth management venture, expanding its footprint in the country’s fast-growing asset management market. The U.S. fund giant said on Wednesday its wealth management venture with a unit of China Construction Bank Corp (CCB) and Singapore state investor Temasek Holdings (Pte) Ltd can now start business. The venture, 50.1% owned by BlackRock and 40% by CCB’s wealth management unit, will draw on BlackRock’s investment expertise and CCB’s vast distribution network, the U.S. firm said in a statement.

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