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BlackRock China WM joint venture obtains AM licence

BlackRock on Wednesday announced that its joint venture in China has obtained the required licence from the China Banking and Insurance Regulatory Commission (CBIRC) to engage in asset management business. The JV — BlackRock CCB Wealth Management Limited — is 50.1% owned by BlackRock, 40% by CCB Wealth Management Co., Ltd — a wholly owned WM subsidiary of China Construction…

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