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CSRC awards BlackRock first London RQFII licence

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BlackRock has been awarded its second Renminbi Qualified Foreign Institutional Investor (RQFII) licence – and the first in London – by the China Securities Regulatory Commission (CSRC).

The licence has been awarded to BlackRock Advisors (UK) Ltd, a subsidiary of BlackRock Inc, enabling the firm to invest in domestic capital markets in China including the A-Share equity and onshore bond markets.
 
BlackRock will now apply for investment quotas under the licence from the State Administration of Foreign Exchange.
 
Thomas Fekete, head of the iShares product team EMEA at BlackRock, says: “China is an important investment destination for our clients globally and we are proud to be among the first asset managers in London to be able to offer direct access to Chinese investments.
 
“The award of our second RQFII licence complements our existing China access licences and is recognition by the CSRC of our commitment to growing the BlackRock China business. It means we will be able to add to the investment solutions we offer to our clients.”
 
BlackRock Asset Management North Asia Limited was granted the firm’s first RQFII licence in March 2014, which received a USD320mn (RMB2bn) investment quota in June this year.

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