BlackRock wins Chinese regulatory approval for onshore mutual fund business

BlackRock wins Chinese regulatory approval for onshore mutual fund business

BlackRock said on Friday it had been granted approval from Chinese regulators to start a wholly-owned onshore mutual fund business in China.

FILE PHOTO: The BlackRock logo is seen outside of its offices in New York
FILE PHOTO: The BlackRock logo is seen outside of its offices in New York City, U.S., October 17, 2016. REUTERS/Brendan McDermid

SHANGHAI: BlackRock said on Friday it had been granted approval from Chinese regulators to start a wholly-owned onshore mutual fund business in China.

The China Securities Regulatory Commission granted approval for BlackRock Fund Management Co to start the operation, the company said in a statement.

(Reporting by Samuel Shen and Andrew Galbraith: Editing by Neil Fullick)

Source: Reuters

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