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Goldman Sachs, BlackRock seek control in new China ventures

They are joining a rush by leading global asset managers to expand in China as the country steps up the opening of its $45 trillion financial market.
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21 Jan 2020 3 Mins Read 0 comment
A BlackRock promotional banner adorns the front of the New York Stock Exchange. Getty Images
A BlackRock promotional banner adorns the front of the New York Stock Exchange.
By Han WeiAmerican investment conglomerates Goldman Sachs Group Inc. and BlackRock Inc.are in talks with Chinese partners about launching majority-owned asset management businesses in China, Caixin learned from separate sources. They are joining a rush by leading global asset managers to expand in China as the country steps up the opening of its $45 trillion financial market. These financial
in 2018 to tame financial risks related to banks’ shadow lending activities. More than 10 designated wealth management companies backed by major banks have won approval. Caixin learned that foreign-controlled asset management companies will be placed under supervision of the China Banking and Insurance Regulatory Commission, under equivalent rules for banks’ wealth management units. ( Source: Caixin Global)
By Han WeiAmerican investment conglomerates Goldman Sachs Group Inc. and BlackRock Inc.are in talks with Chinese partners about launching majority-owned asset management businesses in China, Caixin learned from separate sources. They are joining a rush by leading global asset managers to expand in China as the country steps up the opening of its $45 trillion financial market. These financial in 2018 to tame financial risks related to banks’ shadow lending activities. More than 10 designated wealth management companies backed by major banks have won approval. Caixin learned that foreign-controlled asset management companies will be placed under supervision of the China Banking and Insurance Regulatory Commission, under equivalent rules for banks’ wealth management units. ( Source: Caixin Global)

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