BlackRock Given The Right To Invest In Chinese Capital Markets

One of the world’s largest asset managers, big enough that it could end up being designated as a SIFI along with major US banks, BlackRock, Inc. (NYSE:BLK) has now been given direct access to one of the world’s most important markets. BlackRock Asset Management North Asia Limited was given a Renminbi Qualified Foreign Institutional Investor (RQFII) license that gives it the right to make investment in China’s capital markets. “China is an important investment destination for our clients globally as it undergoes a pivotal transformation, and gradually internationalizes its capital markets,” said BlackRock, Inc. (NYSE:BLK) senior manager Marc Desmidt, reports Simon…