BlackRock Inc. is eyeing to roll out its first exchange-traded fund (ETF) in China latest this year, according to a Reuters report.
BlackRock has reportedly started to hire staff for its China ETF offering, which will make it the first fully-owned foreign fund to venture into the onshore Chinese ETF industry.
The first offering is set to be made available in the last quarter of the year, adding to 6.8 billion yuan or $1.07-billion worth of assets that BlackRock manages via its two mutual funds with holdings in both Chinese and Hong Kong equities.
Among the funds being considered are a carbon-neutrality themed index, which could include China Securities Index Co. This is set to open the doors for both local institutional and retail investors.
BlackRock said it is committed to assisting more Chinese investors in realizing their financial goals through providing more investment products and solutions such as ETF and index investments.
