1 Min Read
LONDON, June 27 (Reuters) - 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)