BlackRock-Soros Feud Is a Microcosm of Wall Street’s China Dilemma
BlackRock is making a big bet on the hunger of China’s individual investors for professional asset management—and on the fraught politics of the U.S.-China relationship
By Jacky Wong Updated Sept. 9, 2021
Talk about a Wall Street showdown. George Soros is battling it out with Larry Fink over investing in China.
The world’s largest money manager, BlackRock , has raised around $1 billion for a mutual fund for Chinese individuals, the first and only foreign firm allowed to do so in the country. More may soon follow suit. The country’s growing middle class offers largely untapped opportunities for foreign investment-management firms. BlackRock’s internal think tank also recommended in August that global investors boost exposure to China.