BlackRock gets regulatory nod to launch China fund company
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BlackRock Friday said it has won final approval from China s regulators to launch a wholly-owned mutual fund business in China. The China Securities Regulatory Commission granted BlackRock approval for Shanghai-based BlackRock Fund Management Co. Ltd. to begin operations, according to a BlackRock news release. The New York-based firm – the world s largest money management firm with $9.01 trillion in assets under management as of March 31 – becomes the first foreign money manager to get a license to run a 100%-owned fund management company on the mainland since Beijing opened the door for that option in April 2020.
PTI | Singapore | Updated: 04-05-2021 10:57 IST | Created: 04-05-2021 10:57 IST
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Complimenting the Singapore government’s broader efforts to reinvigorate aviation and local hospitality sectors in a safe and calibrated manner, a state-funded COVID-proof facility has expanded by four-fold to 600 guest rooms and 160 meeting rooms for visiting international business executives to manage their deals through the city state.
Each in-person meeting at Connect@Changi, without the need for quarantine upon arrival, represents a small but concrete step towards the resumption of business and economic activities, Aloysius Arlando, CEO, SingEx-Sphere Holdings, one of the consortium partners led by the state-owned Temasek Group that is behind the facility, said on Tuesday.