KKR and BlackRock have received Chinese regulatory approvals allowing their newly formed local units to raise funds for investing overseas, official filings showed.
The approvals are the biggest of their kind so far this year and signal that Beijing is forging ahead with opening its financial markets to foreigners despite worries over currency depreciation and prolonged COVID-related lockdowns in its financial centre, Shanghai.
It is one of 24 asset managers, both Chinese and foreign, that will share $5 billion worth of QDLP quotas. The programme has allotted more than $50 billion in quotas via local governments since it was launched in 2013.
Read more: Reuters
