Source: CSRC & Securities Media｜September 19, 2026
BEIJING — BlackRock Fund Management Company has officially obtained the Qualified Domestic Institutional Investor (QDII) qualification from the China Securities Regulatory Commission (CSRC). The approval makes BlackRock the first newly established wholly foreign-owned public fund firm in the Chinese Mainland to receive independent QDII eligibility, marking a major milestone for foreign asset managers expanding cross-border businesses in the Chinese Mainland’s capital market.
According to the official approval document, BlackRock must complete all preparatory work for overseas securities investment businesses within six months. Formal QDII operations will be permitted only after passing on-site inspections by the Shanghai Securities Regulatory Bureau. Gaining QDII qualification does not immediately allow product launches. The firm will further apply for foreign exchange quotas before releasing public offshore investment products for retail investors.
Industry observers emphasize a key distinction: other foreign public fund institutions, including J.P. Morgan, Manulife, and Morgan Stanley, obtained their QDII licenses during their joint-venture phases and retained the qualifications after becoming wholly foreign-owned entities. In contrast, BlackRock secured its QDII status independently as a newly established wholly foreign-owned public fund platform, representing an unprecedented breakthrough in the Chinese Mainland’s asset management industry.
Launched in 2021, BlackRock Fund is the first wholly foreign-owned public fund manager approved to operate in the Chinese Mainland. As the world’s largest asset management firm, BlackRock Group oversees more than USD 15 trillion in global assets, with mature research and investment capabilities covering global equities, fixed income, ETFs, and multi-asset allocation strategies.
After five years of localized development in the Chinese Mainland, BlackRock has built comprehensive local teams for investment research, risk control, and client services. The newly granted QDII license completes its full-spectrum public fund business framework in the Chinese Mainland. Moving forward, the firm will leverage its global research resources to launch diversified offshore equity, bond, and multi-asset products, enriching global asset allocation options for mainland investors.
BlackRock stated that the QDII approval signifies a crucial milestone in its long-term development in China. The firm will continue to deepen local roots, integrate global investment expertise with onshore market practices, and steadily advance business preparation and product planning under full compliance. It aims to support long-term wealth management demands by providing diversified global investment solutions for mainland investors.
The landmark approval accelerates the cross-border expansion of foreign-owned public fund institutions. Neuberger Berman, another newly established foreign public fund, had its QDII application accepted by the CSRC in July 2026. Industry insiders expect increasing foreign participation in the cross-border public fund sector, intensifying market competition in global asset allocation products.
Market analysts note that Chinese Mainland investors’ demand for global asset diversification continues to grow. The entry of international asset managers will introduce differentiated global investment strategies and innovative product lines. Meanwhile, professionals remind investors that QDII investments are exposed to overseas market volatility, exchange rate fluctuations, quota restrictions, time zone trading differences, and prolonged subscription and redemption cycles. Investors are advised to assess their risk tolerance prudently before making investment decisions.
⚠️ Risk Disclaimer: This article is for information reference only and does not constitute any investment advice. Overseas investments involve significant uncertainties including exchange rate risks, geopolitical changes, and liquidity risks. QDII products carry substantial investment risks.