The Traderszone Network

Published in TZ Latest News 21 July, 2015 by The TZ Newswire Staff

BlackRock steps up China drive with new license to raise onshore funds

BANGKOK/HONG KONG (Reuters) – U.S. fund giant BlackRock Inc (BLK.N) has won a special new licence that will allow it to raise funds in China directly for the first time, a senior executive told Reuters, paving the way for the world’s largest money manager to expand in the mainland. Speaking in an interview in Bangkok this week, BlackRock vice chairman Philipp Hildebrand, said his company was granted a so-called Qualified Domestic Limited Partnership (QDLP) license “reasonably recently”.

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