China approves BlackRock, Temasek & CCB wealth management JV

China approves BlackRock, Temasek & CCB wealth management JV

FILE PHOTO: The BlackRock logo is seen outside of its offices in New York City, U.S., October 17, 2016. REUTERS/Brendan McDermid/File Photo - RTX389R9

China has approved a wealth management joint venture between U.S. asset manager BlackRock Inc, Singapore state investor Temasek Holdings (Pte) Ltd and China Construction Bank Corp (CCB), as China gradually opens up its financial sector to international firms.