BEIJING: China has approved a wealth management joint venture between U.S. asset manager BlackRock Inc, Singapore state investor Temasek Holdings (Pte) Ltd and China Construction Bank Corp (CCB), as China gradually opens up its financial sector to international firms.
The announcement, which confirms what people with direct knowledge of the matter told Reuters in December, was announced on the website of the China Banking and Insurance Regulatory Commission (CBIRC) on Saturday.
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