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BlackRock licensed to invest further in China

By Xie Yu in Shanghai | China Daily | Updated: 2014-04-18 07:21

Chinese authorities have given the world's biggest asset manager, BlackRock Inc, a renminbi qualified foreign institutional investor license, which means the firm can invest directly on the mainland using offshore yuan.

The move also further opens China's capital markets and internationalizes its currency.

The license was awarded to BlackRock Asset Management North Asia Ltd, the New York Stock Exchange-listed parent company said on Tuesday.

BlackRock licensed to invest further in China

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