LONDON, June 27 BlackRock, the world's
biggest asset manager, said its UK arm had been awarded a
licence to invest directly in China's mainland capital markets,
giving investors access to its stock and bond markets.
In a statement on Friday, the company said the China
Securities Regulatory Commission (CSRC) had granted a Renminbi
Qualified Foreign Institutional Investor (RQFII) licence to
BlackRock Advisers UK.
The RQFII programme is part of China's move to liberalise
its capital markets, improving two-way movement of investment
money and allowing the Chinese currency to trade more freely
against other currencies.
The RQFII scheme was launched in 2011 in Hong Kong and later
expanded to Taiwan, Singapore and London.
BlackRock in April announced its first RQFII licence,
granted to its North Asian business.
(Reporting by Chris Vellacott. Editing by Steve Slater)