Government News
BlackRock to Stay Bullish on Chinese Assets in Long Term, China Chief Says 2022-10-19
BlackRock to Stay Bullish on Chinese Assets in Long Term, China Chief Says
BlackRock is taking a long-term bullish view on China’s asset market and looks forward to the launch of new short-term trading rules, the head of the world’s largest asset manager’s China operations told Yicai Global.
“Blackrock remains optimistic and is holding bullish views on Chinese assets in the long term,” Tang Xiaodong said. “Compared with the high inflation and monetary tightening happening overseas, China’s economy has high resilience, and there is still room for policy adjustments, making the Chinese market worthy of investment and asset allocation.
“We look forward to the introduction of new short-term trading rules for international institutions, which will undoubtedly be very good news for the market,” Tang said.
China’s securities regulator is reportedly working on a policy that will allow certain foreign public funds to calculate their positions based on products, Securities Times reported on Sept. 16. The new rules would be applicable in Hong Kong.
“This would allow eligible overseas public funds to apply to calculate shareholdings based on a single product and would help increase foreign investment in Chinese businesses,” Tang said.
“Making short-term trading rules clearer could spur foreign public fund managers to unleash more capital to invest in Chinese assets,” Tang said. “It would help attract foreign capital to China and make it easier to invest. It will be an important step in deepening the opening up of the country’s capital market and optimizing the business environment,” he added.
Foreign holdings in the Shanghai and Shenzhen bourses came to CNY2.7 trillion (USD385.1 billion) in September, accounting for 4.3 percent of total market capitalization, according to public data. Net inflows of foreign capital through the stock connect mechanisms between Hong Kong and the mainland bourses in Shanghai and Shenzhen amounted to more than CNY52 billion (USD7.2 billion) in the first nine months.
BlackRock offers pension, equity, fixed income and exchange-traded fund investments in China, Tang said. The New York-based company focuses on opportunities in four main areas, namely the consumption and service sectors, the advanced manufacturing industry, Chinese enterprises with international competitiveness and industries related to long-term structural trends such as the global energy revolution, low-carbon transition and China’s pension reform, he said.
Application Status
| 04-16 | 21315227 | Processing |
| 03-12 | 21315226 | Processing |
| 09-26 | 21315225 | Processing |
Inquiry Status
| 02-29 | 02131558 | Received |
| 03-06 | 02131557 | Received |
| 11-14 | 02131556 | Received |
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