BlackRock gets licence for China wealth management JV with CCB, Temasek

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SHANGHAI (Reuters) – BlackRock Inc (NYSE:BLK) said on Wednesday it had received a licence in China for a wealth management venture with China Construction Bank (OTC:CICHF) Corp (CCB) and Singapore state investor Temasek Holdings (Pte) Ltd.

The China Banking and Insurance Regulatory Commission (CBIRC) granted the licence, the U.S. private equity firm said in a statement.