Press Releases

China Awards BlackRock First RQFII Quota in the US

Mar 02, 2017

• First RQFII Quota Awarded to an Asset Manager in the US

• Expands BlackRock’s Investment Capabilities in China


New York, March 2, 2017 – BlackRock, Inc. (NYSE: BLK), has been awarded Renminbi Qualified Foreign Institutional Investor (RQFII) quota of RMB11 billion (US$1.6 billion) in the United States by China’s State Administration of Foreign Exchange (SAFE). This is the first RQFII quota awarded to any asset manager in the US and brings the combined RQFII quota awarded to BlackRock to RMB35.1 billion (US$5.1 billion).

The quota has been granted to BlackRock Fund Advisors, a US subsidiary of BlackRock, Inc., to invest in mainland China’s domestic capital markets, including the A-share stock and onshore bond markets. BlackRock-managed funds, including certain iShares® ETFs, may utilize this additional RQFII quota to invest in Chinese onshore securities, subject to their investment objectives and restrictions. 

Ryan Stork, Chairman, Asia Pacific said:

“China remains an important investment destination for our clients. The award of this quota is testament to the strength of BlackRock’s China business and our commitment to offering investors a full range of products to meet their varied needs.”

Mark Wiedman, Global Head of iShares and Index Investing said:

“The first US RQFII quota is a milestone for BlackRock and our iShares ETFs.  We move closer to our goal of offering more direct Chinese stock and bond exposure in iShares to clients anywhere in the world.”

Including the most recent award by SAFE, BlackRock holds the following licenses and quotas for its respective subsidiaries:

QFII
• BlackRock Institutional Trust Company N.A., US$250 million
• BlackRock Asset Management North Asia Limited, US$1 billion

RQFII
• BlackRock Fund Advisors RMB11 billion (US$1.6 billion*)
• BlackRock (Singapore) Limited, RMB20 billion (US$2.91 billion*)
• BlackRock Asset Management North Asia Limited, RMB2 billion (US$291 million*)
• BlackRock Advisors (UK) Limited, RMB2.1 billion (US$310 million*)

*RMB to USD conversion at exchange rates of February 28, 2017


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About BlackRock

BlackRock is a global leader in investment management, risk management and advisory services for institutional and retail clients. At December 31, 2016, BlackRock’s AUM was $5.1 trillion. BlackRock helps clients around the world meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles.  BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®.  As of December 31, 2016, the firm had approximately 13,000 employees in more than 30 countries and a major presence in global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company’s website www.blackrock.com
 
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