BEIJING, Nov. 20 (Xinhua) -- Foreign asset management giants are eyeing China's public offering licenses as the market shows the great potential for the asset management growth, according to the Xinhua-run Shanghai Securities News on Tuesday.
At present, a total of 15 foreign private placement companies have completed the filing in the Asset Management Association of China, of which some are the giants by scale of the assets under management.
For them, it is just a small attempt to obtain the wholly foreign-owned private placement licenses. What they are more concerned about is the chance to carry out public offering business and issue public offerings in China in the future, said industry insiders.
Foreign media reported that BlackRock, the world's largest asset management company, is considering seeking a public offering license in China to strengthen and expand its asset management business in China.
In a letter to shareholders, BlackRock CEO said that after obtaining a public offering license, BlackRock can sell public offerings in China, which is very important to increase its presence in China.
Some foreign private equity sources said that the financial asset growth in the mature markets has slowed down, while China is one of the few countries with the growing financial assets. Their optimistic about the huge potential of China's asset management market is a big factor for their accelerating expansion in China. (Edited by Hu Pingchao, hupingchao@xinhua.org)
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