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BlackRock sees joint venture as conducive to China wealth management success BlackRock sees joint venture as conducive to China wealth management success Bloomberg BlackRock Inc. over the past month has secured the licenses it needs to provide comprehensive service to domestic investors in China, said Susan Chan, the firm s Hong Kong-based head of Asia. Covering the entire spectrum of clients in China requires two licenses, Ms. Chan explained in a recent interview. The first is a fund management company license for business along the lines of your traditional asset manager, which BlackRock secured on June 11, she said. The second is a wealth management company license providing access to China s $4 trillion bank retail client channel, which the company and two joint venture partners garnered a month ago.

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