BlackRock, the world’s largest asset manager, is in political hot water for its ties to China. According to letters seen by the Wall Street Journal, the US House of Representatives‘ Select Committee on the Chinese Communist Party notified BlackRock and MSCI on August 1 of an investigation into their China-linked activities.
As reported in the WSJ story, BlackRock has ties to more than 60 Chinese companies that US agencies have flagged on security or human rights grounds. Technically, the asset manager’s relationship with these firms may be legal. However, China hawks in Congress are concerned about Americans unknowingly funding firms with close links to the Chinese Communist Party (CCP).
BlackRock Clients Unknowingly Investing in CCP Client Firms
BlackRock has plenty of reason to be nervous about the lawmakers’ probe. The asset manager is waiting for the Securities and Exchange Commission (SEC) to approve its Bitcoin spot…
