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China’s Trillion-Dollar Market Promise Beckons Wealth Firms

  • Vanguard, BlackRock can join local partners or go it alone
  • China opens gates wider for foreign asset managers on April 1
Ships pass by the skyline of the Lujiazui Financial District in Pudong in Shanghai.

Photographer: Johannes Eisele/AFP via Getty Images

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China’s trillion dollar asset-management market opens wider this week, forcing BlackRock Inc., Vanguard Group Inc. and other global firms to make a strategic decision: Go it alone or work with an entrenched local partner.