BlackRock lays foundation for China mutual fund business

Applied to regulators

BlackRock has applied to establish a mutual fund business in China as the country’s financial services sector is liberalised.

BlackRock applied to the China Securities Regulatory Commission (CSRC) to operate in the country, the world's largest asset manager confirmed. The Chinese government removed restrictions on fully foreign-owned fund management operations on Wednesday (1 April). A statement on the government department's website said: "The CSRC is fully committed to China's overall opening up policies and further opening up of the capital markets. "CSRC welcomes and will review applications from foreign investors in a law and rule-based and efficient manner." BlackRock chair of Asia Pacific Geraldine...