© Reuters. FILE PHOTO: A sign for BlackRock Inc hangs above their building in New York U.S., July 16, 2018. REUTERS/Lucas Jackson
(Corrects description of BlackRock to fund house, not private equity firm, in the second paragraph)
SHANGHAI (Reuters) – BlackRock Inc (NYSE:) said on Wednesday it had received a licence in China for a wealth management venture with China Construction Bank (OTC:) Corp (CCB) and Singapore state investor Temasek Holdings (Pte) Ltd.
The China Banking and Insurance Regulatory Commission (CBIRC) granted the licence, the U.S. fund house said in a statement.
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