Press Releases

China Awards Blackrock First RQFII License in the U.S.A

Dec 15, 2016

• First RQFII License Awarded to an Asset Manager in the U.S.A.

• Expands BlackRock’s Investment Capabilities in China


Hong Kong December 15, 2016 – BlackRock, Inc. (NYSE: BLK), has been awarded its first Renminbi Qualified Foreign Institutional Investor (RQFII) license in the United States by the China Securities Regulatory Commission (CSRC). This is the first RQFII license awarded to any asset manager in the U.S. and the fourth RQFII license awarded to BlackRock.

The license has been granted to BlackRock Fund Advisors, a U.S. subsidiary of BlackRock, Inc., to invest in mainland China’s domestic capital markets, including the A-share stock and onshore bond markets. Certain BlackRock-managed funds can now apply for investment quota under the license from the State Administration of Foreign Exchange (SAFE), including iShares ETFs.

Ryan Stork, Chairman, Asia Pacific said:

“As a leader in cross-border investment, we welcome the decision made by the Chinese government to further expand and encourage international investors’ participation in its domestic capital markets. China is an important market for our clients globally and will only grow in importance as it continues to transform and internationalize its capital markets. The ongoing progress helps investors access one of the most important investment destinations in the world. BlackRock supports such progress and looks forward to future developments.”

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

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

Including the most recent award by CSRC, 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 (No investment quota yet awarded)
• 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)


Ends

 

About BlackRock

 

BlackRock is one of the global leaders in investment management, risk management and advisory services for institutional and retail clients. At September 30, 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 September 30, 2016, the firm had approximately 13,000 employees in 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: For Hong Kong media, please visit www.blackrock.com/hk or Twitter: @BlackRockHK.

 

Media Contact:

BlackRock

Anthony Arthur: +852 3903 2915

Cynthia Ng: +852 3903 2553

 

Finsbury

Queenie Tsao: +852 3166 9839

 

 

Important notes In Hong Kong, this material is issued by BlackRock Asset Management North Asia Limited and has not been reviewed by the Securities and Futures Commission of Hong Kong. This material is for informational or educational purposes only and does not constitute an offer, an invitation or a solicitation to purchase or sale in any securities or BlackRock funds in any jurisdiction in which such offer, invitation or solicitation is unlawful or to any person to whom it is unlawful under the securities laws of such jurisdiction. Investment involves risk. Past performance is not a guide to future performance. The value of investments and the income from them can fall as well as rise and is not guaranteed. You may not get back the amount originally invested. Changes in the rates of exchange between currencies may cause the value of investments to diminish or increase. Levels and bases of taxation may change from time to time. Any research in this material has been procured and may have been acted on by BlackRock for its own purpose. The results of such research are being made available only incidentally. The views expressed do not constitute investment or any other advice and are subject to change. They do not necessarily reflect the views of any company in BlackRock Group or part thereof and no assurances are made as to their accuracy. This material may contain “forward-looking” information that is not purely historical in nature. Such information may include, among other things, projections, forecasts, estimates of yields or returns. This material is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The opinions expressed are as of Dec 15, 2016 and may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and nonproprietary sources deemed by BlackRock to be reliable, are not necessarily all-inclusive and are not guaranteed as to accuracy. There is no guarantee that any forecasts made will come to pass. No part of this material may be reproduced, stored in retrieval system or transmitted in any form or by any means, electronic, mechanical, recording or distributed without the prior written consent of BlackRock. ©2016 BlackRock, Inc. All rights reserved. iShares® and BlackRock® are registered trademarks of BlackRock, Inc., or its subsidiaries. All other trademarks, servicemarks or registered trademarks are the property of their respective owners. C-20161202-1157

About BlackRock

BlackRock helps investors build better financial futures. As a fiduciary to our clients, we provide the investment and technology solutions they need when planning for their most important goals. As of March 31, 2018, the firm managed approximately $6.317 trillion in assets on behalf of investors worldwide. For additional information on BlackRock, please visit www.blackrock.com.