(Reuters) – U.S. fund giant BlackRock Inc 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”. He said BlackRock, with about $4.5 trillion in assets, is committed to China and will “do whatever that entails” to provide asset management services there.
BlackRock Steps Up China Drive With New License To Raise Onshore Funds
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