BlackRock aims to be a top asset manager in China, Fink says

Investment giant sees Asia driving 50% of growth over next five years

BlackRock, which manages about $6 trillion in assets for clients globally, sees China as one of its biggest growth opportunities. © Reuters

ALEX FANG, Nikkei staff writer

April 9, 2019 02:12 JST

NEW YORK -- U.S. investment management firm BlackRock is stepping up its Chinese efforts, aiming to be a major player in the newly opened-up asset management market, CEO Larry Fink revealed Monday.

The company manages about $6 trillion in assets for clients worldwide and is "focused on building an onshore presence" in China, Fink wrote in his annual letter to shareholders.