BlackRock’s Hong Kong subsidiary, BlackRock Asset Management North Asia, has been given an additional US$500 million investment quota by China’s State Administration of Foreign Exchange.
This new qualified foreign institutional investor (QFII) allocation is a supplement to the US$100 million licence that the Hong Kong subsidiary received in March 2013.
The company also has a RMB 2 billion renminbi qualified foreign institutional investor (RQFII) licence that was granted in June 2014.
Other parts of the BlackRock also trade and invest in mainland stocks. This is the second QFII licence that BlackRock has been awarded. In July 2011, BlackRock Institutional Trust received an investment quota of US$100 million. BlackRock’s UK subsidiary, BlackRock Advisors (UK), received the group’s second RQFII licence in June 2014.