China has approved a wealth management joint venture between BlackRock, Temasek Holdings and China Construction Bank.
BEIJING - China has approved a wealth management joint venture between U.S. asset manager BlackRock Inc , Singapore state investor Temasek Holdings Ltd and China Construction Bank Corp , as China gradually opens up its financial sector to international firms.
Top global financial players have long sought to increase their presence in the relatively fast-growing Chinese economy, and in October last year China scrapped some restrictions on foreign banks' operations in the country.
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