BlackRock becomes first global asset manager to get MF business licence in China

BlackRock becomes first global asset manager to get MF business licence in China

FILE PHOTO: The BlackRock logo is seen at the BlackRock Japan headquarters in Tokyo, Japan, October 20, 2016. REUTERS/Toru Hanai/File Photo

BlackRock has become the first global asset manager allowed to start a wholly-owned onshore mutual fund business in China, as Beijing accelerates the opening of the $3.5 trillion industry.

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