U.S. asset manager Blackrock has won additional Renminbi Qualified Foreign Institutional Investor quota of $3.04 billion for its Singaporean regulated entity.
The latest award takes the total amount of China investment quotas allocated to all Blackrock entities to $4.91 billion, the firm said in a press release.
The ongoing program of capital markets reform is vital to international investors wishing to gain access to the world’s second largest economy, notably the steps taken to broaden global investors' participation in onshore fixed income and equity markets.
Big China Positions
«The quota award is recognition by the State Administration of Foreign Exchange (SAFE) of our continued commitment to China and allows us to satisfy the demands of clients for access to onshore China across all asset classes,» said Ryan Stork, Chairman and Head of Asia Pacific at Blackrock.
Including the most recent award, Blackrock has the following onshore China investment quotas:
QFII
Blackrock Institutional Trust Company, US$250 million
Blackrock Asset Management North Asia Limited, US$1 billion
RQFII
Blackrock (Singapore) Limited, RMB20 billion (US$3.04 billion)
Blackrock Asset Management North Asia Limited, RMB2 billion (US$304 million)
Blackrock Advisors (UK) Limited, RMB2.1 billion (US$319 million)
