BlackRock to Start Using Shanghai-Hong Kong Exchange Link
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BlackRock Inc., the world’s largest money manager, plans to start using the Shanghai-Hong Kong exchange link, endorsing a program that has so far been slow to lure international investors.
The firm’s Hong Kong-domiciled China A-Shares Fund plans to invest part of an initial $60 million via the connect after a round of successful tests, said Marc Desmidt, BlackRock’s head of strategic product management for Asia Pacific. The money manager already has about $1.5 billion of quota to buy mainland shares through separate programs for qualified foreign institutions.