China Greenlights BlackRock's Retail Fund Unit as Trade Talks Restart
Selena Li & Robin Yu
Chan Kung, founder and chairman of ANBOUND, was invited by Selene Li, Senior
Reporter of Ignites
Asia - A Financial Times publication to conduct an in-depth discussion on the escalation of US-China standoff and its implications on financial companies, especially global fund managers trying to get new licences to operate onshore China.
Political tension between China and the U.S. have spilled over from merely trade discussions into finance and investments , as evidenced by mounting frictions over Chinese U.S. -listed companies and tit - for - tat consulate closure. "The likelihood of China exploiting financial licence issuance as part of wider geopolitical disputes is low. China tends to tread very lightly when considering political counter measures and puts a strong emphasis on the fundamentals of its economy and economic reform measures to which global capital inflows are a prerequisite in certain sectors. The government is steering the economy away from a domestic investment market that is propped up by real estate and seeking support from capital investment and offshore asset managers are what China needs to make a shift. China will only expedite its opening - up in financial markets as it doesn't want to see itself segregated from the outside world. " Chan Kung said.