Asset management giant BlackRock has denied media reports claiming that it is withdrawing from the Chinese market.
"Our commitment to the Chinese market remains steadfast," BlackRock said in a response.
This came after BlackRock's announcement on August 31 to terminate the China Flexible Equity Fund, a China-themed offshore fund with a net asset value of only $21.4 million, ignited rumors that the asset manager is withdrawing its investment from China.
BlackRock said the fund liquidation is part of "routine fund management operation" as a company regularly evaluates its products to ensure that the interests of its investors are protected.
