Hear from the in-house head at BlackRock CCB Wealth Management, China’s second-ever foreign-controlled wealth management business
In May, BlackRock CCB Wealth Management became the second foreign-controlled wealth management joint-venture to be granted an operating license by the Chinese government. The JV is majority-owned by the world’s biggest asset manager BlackRock with 50.1% stake, while China Construction Bank and Singapore state investor Temasek own 40% and 9.9% respectively. Josh Zhang discusses the development of China’s nascent bank wealth management industry, the key provisions of newly introduced wealth management sales and distribution rules, and the Greater Bay Area Wealth Connect scheme.
Josh Zhang is managing director and head of internal control at BlackRock CCB Wealth Management based in Shanghai.
The China Law Podcast is a weekly podcast exploring China’s business and financial sectors from a legal perspective. Get in touch at [email protected] with any feedback and ideas for future episodes.
- 03:33 Advantages of bank wealth management companies compared to other types
- 06:19 Permitted investment scope of Greater Bay Area Wealth Management Connect
- 08:40 Enhanced due diligence requirements on product distributors
- 11:33 Senior management responsibilities and termination requirements