BlackRock registers onshore investment advisory in China

Registration allows PFM WFOE to provide investment advisory services to private asset management products issued by onshore securities and futures firms and their subsidiaries

BlackRock’s wholly foreign-owned enterprise in Shanghai, BlackRock Investment Management (Shanghai) Co., Ltd. (PFM WFOE), has successfully completed the registration of its onshore investment advisory service in China with the Asset Management Association of China (AMAC).

The registration allows PFM WFOE to provide investment advisory services to private asset management products issued by onshore securities and futures firms and their subsidiaries, as well as fund management companies and their subsidiaries in China.

BlackRock’s onshore China investment quotas under the Qualified Foreign Institutional Investor (QFII) and Renminbi Qualified Foreign Institutional Investor (RQFII) schemes amount to approximately US$9.26 billion (as of March 2019).

The firm’s additional access to China’s capital markets includes participation in the Stock Connect and Bond Connect programs, as well as the launch of two Qualified Domestic Limited Partnership (QDLP) products for Chinese high net worth investors. BlackRock Investment Management (Shanghai) Co., Ltd. was registered with AMAC as a Private Fund Management (PFM) company in December 2017, and was followed by the launch of its first onshore equity fund in June 2018.

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